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28.05.202114:37 Forex Analysis & Reviews: Bullish signal in the Dollar index.

The Dollar index has provided us with a bullish short-term signal, confirming our bullish short-term view. Price has broken out of the downward sloping wedge pattern. Price is bouncing and we expect at least a move towards 91 as we mentioned in previous posts.

Exchange Rates 28.05.2021 analysis

Red lines - wedge pattern

Blue lines- bullish divergence

The Dollar index is trading at 90.30 and has most probably completed the downward move from 93.25. Short-term trend has reversed to bullish as price broke the wedge pattern to the upside. The RSI has provided us with warning signals of an imminent trend change. Today we have confirmation of this short-term trend change. The most likely scenario is for price to continue higher towards at least 91.

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