The Dollar index remains in the bullish trend. The Dollar index is making higher highs and higher lows. It has reached our short-term target of 81. Now, our next target is 81.75. The Dollar index continues to trade within the upward sloping channel above the Ichimoku cloud support.
A short-term pause to the rise could come near 81-81.20. A pull back towards 80.7 would be a healthy correction and another opportunity to add to long positions. The trend remains bullish. So do I.
In the daily chart as shown above, we can see the Dollar index approaching important resistance. Our target is at 81.75 an equal sized move to the rise from 78.90 to 81. The price is above the Ichimoku cloud. This confirms the bullish daily trend which proved our view that a trend reversal occurred at 79.
