The US$ closed higher for the week but still has to negotiate the daily Ichimoku Cloud and 102 S/R level to offer a convincing case for any bullish follow-through activity.
USDX monthly: still looks to be consolidating on this time frame:
USDX weekly: ditto here but posted a bullish weekly candle:
USDX weekly Cloud: price is above the Cloud and above a support trend line:
USDX daily: the index has managed to hold above 100 but the 102 resistance level is still ahead:
USDX daily Cloud: price is now in thin daily Cloud but a close and hold above would be bullish. A close and hold above the daily Cloud would also tip the FX Indices back into FX Index alignment for SHORT EUR$ and LONG US$:
EURX weekly Cloud: this index closed with a small bearish candle and is still below the key 100 level and within the weekly Cloud:
Data: there isn’t any high impact EUR data but there is a bit of US data to negotiate next week. Keep in mind that trading volumes will probably be lighter than usual due to the Easter week:
Summary: the US$ had a bullish week but I consider a hold and close above the daily Ichimoku Cloud and previous resistance zone of 102 is needed to present any convincing thesis for bullish continuation. Success on this front though would tip the FX Indices back into alignment for LONG US$ and SHORT EUR$ so that need to be kept in mind too for the implications this have with general Forex trading.