| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Buy | Buy | Neutral |
| Stochastic(5;3;3) | Buy | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The dollar index, which measures the US Dollar against a basket of major currencies, has been declining in a descending channel pattern since the beginning of November. The index has declined by 2.11% since November 10.
Everything being equal, the DOLLAR.IDX/USD exchange rate is likely to continue to edge lower during the following trading sessions. The potential target for bearish traders would be at the 90.00 level.
However, the weekly support level at 91.12 could provide support for the dollar index in the shorter term.