Weekly look at USD

Russell Shor, CFTe, MFTA FXCM

A longer-term view of the USD shows the greenback coming off of an accumulation base. It is now trading above its black 30-week EMA and the EMA has turned up. The weekly MACD is above its signal line and the weekly RSI(9) is above 50. These oscillator signals are indicative of an underlying bullish momentum. Prices don’t move in a straight line, so a pullback towards to EMA is seen as normal and is likely to be a correction in an uptrend 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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