USDOLLAR EMAs Move Into Bullish Stack on Daily
The above chart is FXCM's USD index, USDOLLAR. Further to our previous article, the daily USDOLLAR chart's EMAs have now moved into a bullish stack. I.e. the green 5-day EMA is above the orange 10-day EMA, and the orange 10-day EMA is above the black 34-day EMA. If the EMAs develop angle and separation the greenback will be moving higher despite the unlimited QE policy of the Federal reserve. The movement into the greenback is typical of fund allocation to a perceived safe haven.
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