The US dollar has been through a hard time. If you see the pairs like EURUSD, GBPUSD, JPYUSD, AUDUSD, you would know how hard it was.
Is this time for a reversal?
Since we already observe a little bit downward trend on the Gold price, which I have analyzed(please check my file), it could be a signal for the US dollar to recover a little bit.
Now, let’s see the chart. The Bollinger bands shrink, which means there may be a reversal soon. Also, a divergence here on the MACD and candles is clear, this could also mean that the price may change the direction. Wanna be more confident? Check the RSI, it just recovers a little bit from the oversold.
So, let’s expect the upward trend!
Is this time for a reversal?
Since we already observe a little bit downward trend on the Gold price, which I have analyzed(please check my file), it could be a signal for the US dollar to recover a little bit.
Now, let’s see the chart. The Bollinger bands shrink, which means there may be a reversal soon. Also, a divergence here on the MACD and candles is clear, this could also mean that the price may change the direction. Wanna be more confident? Check the RSI, it just recovers a little bit from the oversold.
So, let’s expect the upward trend!