The U.S Dollar appears to be in the early part of what could be a multi- month bull market.
Weekly RSI reached the oversold zone below 30% and has crossed above its moving average line, a bullish signal.
Weekly Stochastic also reached its oversold zone and has a bullish lines crossover.
Minimum upside target is at a .382 retracement of its multi-month decline.
A more likely target considering the recent RSI and Stochastic bullish signals is a .618 retracement of the bear market at 36.13.
Mark
Weekly RSI reached the oversold zone below 30% and has crossed above its moving average line, a bullish signal.
Weekly Stochastic also reached its oversold zone and has a bullish lines crossover.
Minimum upside target is at a .382 retracement of its multi-month decline.
A more likely target considering the recent RSI and Stochastic bullish signals is a .618 retracement of the bear market at 36.13.
Mark
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.