The U.S. Dollar moved down from its 'Double Top Reversal Pattern' to mean value at the daily 20 EMA (green) on March 26. Since then, the dollar has moved below the daily 20 EMA, and the 20 EMA is starting to point downward; this is an indication the dollar is continuing lower.
Note: The red moving average is a 60-period exponential moving average representing a 10-day exponential moving average on the daily chart. The green moving average is a 120-period exponential moving average representing a 20-day exponential moving average on the daily chart.
The U.S. Dollar is now in a position to continue lower to yearly mean value at the yearly pivot point 'P'.
I expect the U.S. Dollar to move down to pivot point 'P' during the days ahead!
Reference:
Click on the reference chart to review last week's U.S. Dollar analysis...
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Note: The red moving average is a 60-period exponential moving average representing a 10-day exponential moving average on the daily chart. The green moving average is a 120-period exponential moving average representing a 20-day exponential moving average on the daily chart.
The U.S. Dollar is now in a position to continue lower to yearly mean value at the yearly pivot point 'P'.
I expect the U.S. Dollar to move down to pivot point 'P' during the days ahead!
Reference:
Help! If you like this analysis please give me a "LIKE" and help me to become a TOP Auther. As a side benefit, this will help to encourage me to post additional analyses during the week.