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Dollar Index Get Buy Signals From RSI and MACD

December 23, 2020
in DAILY UPDATES, Forex, Home, Indices, MARKETS, Technical Analysis
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Dollar Index Get Buy Signals From RSI and MACD
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Dollar Index | Daily Chart, RSI(14) and MACD 9,12,26
Dollar Index | Daily Chart, RSI(14) and MACD 9,12,26

DXY is trying to reverse upwards from the lower line of the bullish wedge formation. RSI indicator shows short term divergence with the price and turn over 30 with a buy signal. MACD is also cross to the upside of its 9-day average below zero and shows a fresh buy signal as well. If the signals work, Dollar Index may start a move towards the upper line which is currently at the 92.275 level. The price should stay above the 89.880 level for this bullish scenario to work.

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