USDOLLAR H4 Timeframe Showing Signs of Strength
FXCM's USDOLLAR index is bouncing on the H4 time frame. It's green 5-hour EMA is looking to cross above its orange 10-hour EMA (green ellipse) and its RSI is looking to move above 50 (blue rectangle). If these chart than it will be considered as bullish developments. However, we need to be wary of a a correction in a larger impulse move down. to This end, if the EMAs do cross and develop angle and separation and the RSI crosses above and moves away from 50, it it may be signalling that an underlying bullish momentum is present in the near-term.
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