The Dollar index remains in the bullish trend and has made a new higher high yesterday. The upward move from 85 could very well be complete and we could see a pull back towards 86.50-86.90 any time. However, the longer-term view remains fully bullish as long as price is above 85 with 91 as a target. The bullish flag target remains to be seen.
The Dollar index remains above the Ichimoku cloud. The Dollar index has pulled back towards the tenkan-sen support and has held above it. If this support is broken in the 4-hour chart, we should expect a pull back towards the kijun-sen at 86.30. So critical support is found at 87-87.10.
The Dollar index remains fully bullish in the daily chart and I continue to expect a move towards 91 to complete the bullish flag pattern. We could see a pull back but I still believe this will be another buy opportunity as the up trend remains strong. A pull back below 86 will start to worry me if the up trend has more to go or has finished.
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