Looking at the weekly chart we can see that price has started turning up. We also have a bullish pintail formed about 4 weeks ago.
Bullish divergence is also spotted in the MACD histogram.
Price is currently trying to move above the 15ema and I believe that the 30 ema (red line) will be the next topside target and it coincides with the ranging area that I've marked as a red box. It also coincides with the 23.6 Fibonacci level.
With a few confluencing points, we may see rejection in that area.
In the meantime, US dollars I believe will remain on an upward trajectory.
Founder of ProTradersNetwork.com, home of the TMG Titan traders who uses TMG Titans Pro Tools developed by Ardy.
TMG Pro Tools (MT4) includes: TMG Grid Master Pro, Titan Ranger, Grid Calculator, Titan Timer and TMG Livewire Pro
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