USD daily shows an uptrend. That is indisputable because both the intermediate (SMA 50) and long-term (SMA 200) moving averages are going in a northerly direction (w/ the SMA 50 having the potential for change).
The weekly chart does sport a funky and none too bullish looking pattern that some gold analysts (ha ha ha) are calling a death of the dollar style H&S. We’ll see on that.
USD monthly reminds that the 2018 rally came from very key long-term support and is in a bull market signaled by 2011’s higher low. What’s more, the rally has taken MACD & RSI to positive territory.
That’s the picture. The “Death of the Dollar” cult may have gotten a little ahead of itself with the bearish pronouncements that came out along with the fevered gold bull horning we recently noted.
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