Is the US Dollar turning bullish?

Dec 15, 2020

DXY

On a weekly chart we see a MACD & RSI divergence.
But that alone is not enough. We need to see a reversal pattern and/or structure breakthrough.

So lets dig deeper:
On a 4H chart we see a double bottom, with the second leg being a bullish engulfing candle.
Moreover, this is accompanied by a MACD & RSI Divergence.


We believe that a confirmation of the engulfing candle + a breakout of the downward resistance lines shown in the chart, could possibly lead to a larger positive trend in the USD.

Happy Trading!

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