The Dollar’s Climb: A Trend With More Fuel in the Tank?
The USDOLLAR daily chart is in a clear uptrend, defined by a sequence of higher troughs and higher peaks. The EMAs are aligned in a bullish formation with strong angle and separation, and the RSI remains above 50 - signalling positive underlying momentum for the greenback.
Market participants positioned themselves well early on, with the first higher peak after a higher trough forming at point 1, even before Fed Chair Jerome Powell pushed back - in unusually blunt terms - against a December rate cut during his 29 October press conference.
Since then, the dollar has been on a tear. A break below the most recent higher trough would warrant a reassessment, but for now the USDOLLAR continues to present a firm uptrend.
Market participants positioned themselves well early on, with the first higher peak after a higher trough forming at point 1, even before Fed Chair Jerome Powell pushed back - in unusually blunt terms - against a December rate cut during his 29 October press conference.
Since then, the dollar has been on a tear. A break below the most recent higher trough would warrant a reassessment, but for now the USDOLLAR continues to present a firm uptrend.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.