The Dollar index remains in a bearish trend and has already reached our 92.50 target we mentioned yesterday and moved even lower as its major component, the EUR/USD, is rallying above 1.15. The trend is bullish but Dollar bears should remain on high alert and use tight stops.
The Dollar index remains below both the tenkan- and kijun-sen indicators and, of course, below the Kumo (cloud). The trend remains bearish. The RSI and stochastic are oversold signaling that the bears should be on high alert and use tight stops. Our 92.50 target was surpassed. The price has reached important long-term support as shown on the weekly chart below.