FX.co ★ USDX technical analysis for November 6, 2015

The Dollar index remains in a short-term bullish trend. We have finally seen a breakout above the long-term sideways move that implies we should expect new highs before the year end.

Blue line - medium-term support

The Dollar index is trading in an bullish trend. This is confirmed by price being above the Ichimoku cloud, kijun-sen being crossed by the tenkan-sen and by price making higher highs and higher lows. Short-term support is at 97.75. Next support is at 97.40 and then at 97.

Green line - weekly support

The weekly chart shows us the breakout above the bullish flag formation. Price bounced off cloud support and is trending higher. I expect to see above 100-101 before year end unless we break below 93.