USDOLLAR Turns Neutral On Daily Timeframe

Russell Shor, CFTe, MFTA FXCM

The below is the daily chart of the USDOLLAR. The green 5-day EMA has crossed below the orange 13-day EMA (blue ellipse). This has effectively put the EMAs into a neutral formation. Moreover, we also note that the RSI(9) is near the neutral 50 level (blue rectangle). Thus, the USDOLLAR is currently considered to be in a consolidation phase until proven otherwise.

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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