Is The Dollar Bounce Over?
Alexandros Yfantis | Feb 14, 2018 12:14AM ET
The Dollar Index is testing the Ichimoku cloud support at 89.60 today. The rejection at the red downward sloping TL and the double top at 90.60 gave us a warning last week. Was this bounce from low 88's the entire correction or should we expect another leg higher towards 91.50? As long as price is above 89.60 bulls have hopes. As long as price is below 90.52 bears are still in control of the trend. Bulls want to see a bounce off the cloud, bears want to see a break below the cloud support.
A break below support will open the way for a move towards 87. A break above 90.52 will open the way for a move towards 91.52-92.50.
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