| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇗ | ⇒ |
The dollar index, which measures the US Dollar against a basket of major currencies, bounced off a support line at the 93.67 level on October 4. As a result, the exchange rate has surged by 0.75% since this week's trading sessions.
Currently, the DXY is trading near the upper boundary of an ascending channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the 95.50 area could be expected during the following trading sessions.
However, if the channel pattern holds, bearish traders may drive the DOLLAR.IDX/USD pair lower during the following weeks.