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The U.S. Dollar Reaches the First Hurdle
The U.S. Dollar - despite the move back above the 80.00 level - is still trading in a chop and that means the 81.33 to 81.49 presents a significant slippery slope for the bulls and even could usher in talk of being “overbought”. It’s not entirely wrong either. The “two to four o’clock” angle of the 34EMA Wave reflects the indecision and which is the chop that we see on the chart. The bounce higher, however substantial, has still not created an uptrend on the daily chart of the U.S. Dollar Index and therefore there is no Directional Bias - no clear opinion that higher highs and higher lows can be ... (full story)