Important moment for the Dollar Index!
Important moment for the Dollar Index!
After months in this current “NoGo” trend we see some signs that the Dollar maybe strengthening against the basket of other currencies.
There is bullish divergence, with price making lower lows and the oscillator making higher lows. I have highlighted this with the grey trend lines. Also, the GoNoGo Oscillator is testing zero from below, meaning that the bearish momentum has for the moment cooled.
If the oscillator can break above zero into positive territory then that would be a sign that the “NoGo” trend is threatened. If the zero line holds as resistance, and the oscillator gets turned away back into negative territory then there maybe more struggles ahead for the Dollar index.
After months in this current “NoGo” trend we see some signs that the Dollar maybe strengthening against the basket of other currencies.
There is bullish divergence, with price making lower lows and the oscillator making higher lows. I have highlighted this with the grey trend lines. Also, the GoNoGo Oscillator is testing zero from below, meaning that the bearish momentum has for the moment cooled.
If the oscillator can break above zero into positive territory then that would be a sign that the “NoGo” trend is threatened. If the zero line holds as resistance, and the oscillator gets turned away back into negative territory then there maybe more struggles ahead for the Dollar index.
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