The US dollar has been through a hard time. If you see the pairs like EURUSD, GBPUSD, JPYUSD, AUDUSD, you would know how hard it was.
Is this time for a reversal?
Since we already observe a little bit downward trend on the Gold price, which I have analyzed(please check my file), it could be a signal for the US dollar to recover a little bit.
Now, let’s see the chart. The Bollinger bands shrink, which means there may be a reversal soon. Also, a divergence here on the MACD and candles is clear, this could also mean that the price may change the direction. Wanna be more confident? Check the RSI, it just recovers a little bit from the oversold.
So, let’s expect the upward trend!
This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.