The dollar index has recovered to 93.00 on the Fed’s skepticism of yield curve control. Daily and weekly charts show signs of seller exhaustion. Dollar index, which tracks the value of the greenback against majors, is trading above 93.00 at press time, having put in a low of 92.13 earlier this week. The bounce validates the seller exhaustion signaled by the higher lows (positive divergence) created by the relative strength index. The long tail attached to the weekly candle also indicates downtrend exhaustion. As such, the index may challenge the lower high of 93.91 created on Aug. 12 in the short-term. That said, the broader trend would remain bearish as long as the former support-turned-hurdle of 94.65 (March low) is intact. Daily chart Trend: Corrective bounce Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Cosmos Technical Analysis: ATOM/USD potential pennant pattern breakout eyes $6.50 FX Street 2 years The dollar index has recovered to 93.00 on the Fed's skepticism of yield curve control. Daily and weekly charts show signs of seller exhaustion. Dollar index, which tracks the value of the greenback against majors, is trading above 93.00 at press time, having put in a low of 92.13 earlier this week. The bounce validates the seller exhaustion signaled by the higher lows (positive divergence) created by the relative strength index. The long tail attached to the weekly candle also indicates downtrend exhaustion. As such, the index may challenge the lower high of 93.91 created on Aug. 12 in the short-term.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
