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Below is a weekly chart of the US Dollar Index (DXY).
Index recently had a breakout above 96.9 resistance - not yet with conviction. Trading above both 50w and 200w sma's which is bullish. Index needs to move above the next resistance area near 98.0 to confirm bullish bias.
MACD recently formed a bullish up-cross during early-Q3 with the histogram commencing +ve expansion which is bullish. Still in its very early stages of a potential bull run - need to see continued +ve expansion to confirm bullish bias. Stochastics recently formed a bullish higher-low since becoming oversold during mid-Q2. Need to see an acceleration in +ve momentum to confirm bullish bias.
This chart has the potential of becoming bullish over the next few months. Not good for PM's ST if this were to eventuate. DYOR.
