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USD Index sees mixed signs ahead of Jackson Hole. Where to next for the buck?
At the start of this trading week, the USD index formed a 'golden cross', whereby its 50-day simple moving average crossed above its 200-day counterpart. Such an event typically suggests that more gains are in store. However, also on Monday, this index completed an 'evening star' which is a bearish, three-candlestick pattern that usually denotes the reversal of a trend. Faced with these seemingly conflicting technical indicators, the question facing traders now is, "where to next for this USD index"? The greenback has been on an uptrend since that May-June trough, fueled by expectations that the US Federal Reserve is ... (full story)