Dollar

The below is the daily chart of the USDOLLAR. Further to yesterday’s article, we note that the greenback’s orange 13-day EMA is looking to cross above its black 34-day EMA (green ellipse).  If this happens, the EMAs will be in a bullish stack. I.e. the green 5-day EMA will be above the orange 13-day EMA, and the orange 13-day EMA will be above the black 34-day EMA. We note that this is a characteristic of a mark-up phase. The RSI(9) reflects this bullishness and is above 50, which is indicative of an underlying bullish momentum. If the EMAs develop angle and separation it will be regarded as a bullish development because it is likely that the greenback’s basic momentum will be on the increase.

Dollar

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