The USD index is showing weakness as price has been able to break through prior demand. It looks like bearish momentum is growing as the rate of change indicator is increasing during the current price decline. The average rate of change has been increasing to the downside. The ADX indicator is increasing, giving weight to the current decline's strength.
Looks like the weekly chart is putting in a lower high to continue the long term downtrend. I'm expecting a continuation of dollar weakness and keeping my eye on the relative strength for suitable currencies to pair.
Looks like the weekly chart is putting in a lower high to continue the long term downtrend. I'm expecting a continuation of dollar weakness and keeping my eye on the relative strength for suitable currencies to pair.
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