FX.co ★ USDX technical analysis for September 22, 2015

The US Dollar index has continued moving higher towards the green trendline resistance and has not pulled back. I'm bullish on the index, but I would prefer to protect my longs since there are many chances of a pullback in the index.

Green line - trendline resistance

The pice is currently above the green trendline and above the Ichimoku cloud. It is important to see where we close today as a close above these resistance levels is important for the continuation of the uptrend. Pullbacks should be bought as, I believe, the longer-term bullish flag pattern will break upwards.

Green line - support

The weekly chart shows how the price tests the kijun-sen resistance area. The price is above the weekly cloud support and I would not be surprised to see the index reach the red trendline resistance over the coming days. This pattern is a bullish flag and I will be extremely bullish if the index breaks out above the resistance. Target is new highs above 102.