empty
 
 
ar
الدعم
فتح الحساب الفوري
منصة التداول
إيداع/ سحب

13.05.202118:20 Forex Analysis & Reviews: Bullish RSI divergence in the Dollar index. First warning to bears.

The Dollar index remains in a bearish trend. Price continues making lower lows and lower highs but recently we observed that the RSI did not follow price to new lows. Instead it provided a bullish divergence. Combined with the fact that price has formed a downward sloping wedge pattern, traders need to be cautious because soon we might get a strong reversal signal.

Exchange Rates 13.05.2021 analysis

Red lines - wedge pattern

Blue lines -bullish divergence

The Dollar index has erased most of its rise from February lows. Price is challenging the upper wedge boundary at 90.80. Resistance is important at this level. The Dollar index could move to new short-term low towards 89.80 if price gets rejected at current levels. If bulls manage to recapture 91 and stay above it, we could then see a move higher towards 93 again. We keep a close eye on 90.80 as I believe is a key turning point.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

لا تستطيع التحدث الآن؟
اطرح سؤالك في الدردشة.