The US dollar index continues to trade below the important resistance of 96.6, but also above the Ichimoku cloud in both the 4-hour and weekly charts. I prefer to stay neutral and wait for the buy signal above 96.60 to go long. The weekly bullish flag remains valid. We must be patient waiting for a breakout.
Red lines – triangle pattern
The US dollar index is trading in a big triangle pattern. The upper triangle boundary is seen at the previous high and important resistance of 96.60. The lower boundary is at 95. A trend is neutral in both the medium and short terms as the price mainly consolidates.
Red line – resistance
Green line – support
The weekly chart does not show any new or significant changes. The price remains trapped inside the bullish flag and above the Ichimoku cloud. The best thing to do is to wait for a breakout, so we need to be patient.
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