The U.S Dollar appears to be in the early part of what could be a multi- month bull market.
Weekly RSI reached the oversold zone below 30% and has crossed above its moving average line, a bullish signal.
Weekly Stochastic also reached its oversold zone and has a bullish lines crossover.
Minimum upside target is at a .382 retracement of its multi-month decline.
A more likely target considering the recent RSI and Stochastic bullish signals is a .618 retracement of the bear market at 36.13.
Mark
Weekly RSI reached the oversold zone below 30% and has crossed above its moving average line, a bullish signal.
Weekly Stochastic also reached its oversold zone and has a bullish lines crossover.
Minimum upside target is at a .382 retracement of its multi-month decline.
A more likely target considering the recent RSI and Stochastic bullish signals is a .618 retracement of the bear market at 36.13.
Mark
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