| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇗ | ⇘ | ⇘ |
The dollar index, which measures the US Dollar against a basket of major currencies, bounced off the support line at the 90.00 level on May 11. As a result, the exchange rate has surged by 0.86% since this week's trading sessions.
Currently, the DXY is trading near the upper boundary of a descending channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the 200– period simple moving average at 91.51 could be expected during the following trading sessions.
However, if the channel pattern holds, bearish traders could continue to drive the DOLLAR.IDX/USD pair lower in the descending channel pattern during the following weeks.