The Dollars index just confirmed a trend reversal last week
We can clearly see the double bottom formation on the daily chart.
All the momentum indicators are on the upside.
A retrace is possible but as long as the price stay above the neckline of the pattern 97.91 I will remain bullish on the dollar.
We can clearly see the double bottom formation on the daily chart.
All the momentum indicators are on the upside.
A retrace is possible but as long as the price stay above the neckline of the pattern 97.91 I will remain bullish on the dollar.
Trade active:
that is a correction. Will the new support hold ? I don't know but if it does it will make you money.
that is a correction. Will the new support hold ? I don't know but if it does it will make you money.
Comment:
I'm not on the noise on this one but it seems just fine. STRONG DOLLAR, weak oil.
Comment:
The market is never generous but always right.
If I was on this train I would be long gone before having the chance to make a profit. Even with a good risk management.
I keep speculating on more upside.
If I was on this train I would be long gone before having the chance to make a profit. Even with a good risk management.
I keep speculating on more upside.
on a weekly chart the price is in a clear up trending channel.
bouncing off the 50 week EMA.
the RSI is in a contraction range and the stochastic crossing up signaling a new buy signal.
plus an hidden bullish div can be seen on the stochastic.
I'm afraid that for now the dollar remain a STRONG BUY.