The US dollar has rolled over with the bounce in US and global stock markets. But as noted in NFTRH 533, it is not broken even as it has been short-term bearish.
The daily chart shows that the SMA 200 is being tested and also that both the 200 and 50 day averages are trending up. This looks like a caution point for USD bears (and by extension, the trades in play that are generally anti-USD).
The weekly chart shows a series of higher highs and higher lows intact from the rally that began a year ago. USD could temporarily pierce the SMA 200 above while maintaining a higher low and a bull trend.
The monthly chart instructs us once again that a bull market of some kind began in 2008 and valid support was tested in early 2018 (not coincidentally as the US stock market was making its January blow off high).
If USD resumes its bullish ways risk would be indicated for a wide range of assets in my opinion. For now, I just wanted to get you the latest technical status so that conclusions or opinions like the above will have context.
