FX.co ★ #USDX Technical analysis for December 23, 2014

The Dollar index remains in an uptrend and has reached new highs as expected. Last week gave the bullish signal to start a new upward move. The Dollar index is making higher highs and higher lows.

Green line = support

The Dollar index remains in a fully bullish trend according to the Ichimoku indicators. 89.40 is short-term support. If broken, we could see a pull back towards the kijun-sen or the cloud itself at 88.60-88.70 area.

Nothing new to add regarding the weekly chart. The strong upward reversal from last week was a clear message for dollar bears not to bet against it. The uptrend is very strong and the bullish flag target is expected to be achieved by the year end if not exceeded. I remain fully bullish for the Dollar.