The strength of the USDollar DXY is looked at from a Weekly perspective. It represents the strength of USD against 6 other currencies.
1. There is a broad band of possible fragile support.
2. The 200 EMA is some indication of probability for the north or resistance to moving far further south of it. However this is not a prediction.
3. Notably the RSI on this time frame is quite low. Whilst RSI's are not entirely reliable, history has shown a propensity for low RSI's on the weekly DXY to be rejected - even for a few weeks.
What it means - if there is a weekly reversal - is that probabilities in lower time frames could be better estimated across some USD pairs.
1. There is a broad band of possible fragile support.
2. The 200 EMA is some indication of probability for the north or resistance to moving far further south of it. However this is not a prediction.
3. Notably the RSI on this time frame is quite low. Whilst RSI's are not entirely reliable, history has shown a propensity for low RSI's on the weekly DXY to be rejected - even for a few weeks.
What it means - if there is a weekly reversal - is that probabilities in lower time frames could be better estimated across some USD pairs.
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