DX has shown profit taking decline in recent weeks. In the RSI, I am seeing a possible range shift signal developing as this rally is unable to move past 60 levels. On the DMI, I find that the Adx line has risen to above 60 and now peeling off. The DI lines are positively phased yet but a crossover now could activate a signal for the contra trade as well.
The Dollar has to now make it or it will soon break it. A low below 93 that sees a new Rsi low and a negative DI cross would be a clincher for the bears on the Dollar.
The Dollar has to now make it or it will soon break it. A low below 93 that sees a new Rsi low and a negative DI cross would be a clincher for the bears on the Dollar.