A longer-term view of the USD
The weekly chart of the USD is enlightening. The USD has broken through the down sloping green trendline. This signals a decline in downwards momentum on a longer-term chart. We also note that the USD is above its black 30-week EMA and that the EMA has turned up. Moreover, its MACD is above its signals line (and above 0), and the RSI(9) is above50. These point to a longer-term underlying bullish momentum. However, prices do not move in a straight line but rather tend to zig and zag as a trend progresses. Therefore, we may certainly see weaker USD prices ahead but that may, in fact, be the correction before the next impulse move higher begins.
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