USDOLLAR Moving Closer Towards Bullish EMA Stack
This chart shows the daily time frame of FXCM's USD index - the USDOLLAR. The EMAs are close to moving into a bullish stack (green ellipse). This will happen if the orange 10-day EMA crosses above the black 34-day EMA. If this happens the green 5-day EMA will be above the orange 10-day EMA, and the orange 10-day EMA will be above the black 34-day EMA. If the EMAs then develop angle and separation it will be due to an increase in the underlying bullish momentum of the greenback. This scenario is indicative of sentiment moving towards risk-off and the reallocation of capital towards the havens.
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