| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | 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, has declined by 4.22% since July 1. The currency pair breached March's swing low at 94.63 during last week trading sessions.
All things being equal, the exchange rate could continue to edge lower during the following trading sessions. A breakout through the lower boundary of a descending channel pattern could occur.
However, if the channel pattern holds, bullish traders could pressure the currency exchange rate towards the 50– period simple moving average at 94.89 within this week's trading sessions.