Daily Chart

There are some interesting things happening in the chart for the US Dollar Index right now. The first thing that catches my eye is it is currently in what appears to be a clear state of accumulation (sideways trend). The trend even has a bit of an upward bias in the trend channel, and shows a bullsih 15ema / 50ema cross over happening today. The Aroon indicator is flipping back and forth which also indicates a period of accumulation has started. All of this could indicate a change in the trend. If you’re a forex trader and wnat to trade the US dollar, now would appear to be a good time to start using your osciallators and swing trading the dollar. 

Weekly Chart

The weekly chart shows even more promise for a bullsih trend. First, the Aroon is the closest to signaling a bullish trend reversal that it has been since the end of 2006. If the index can have a few up days over hte next week or two, we might see a 1-2-3 bullish trend reversal in this chart. The final thing I noticed is confirmation of an accumulation period.

Your Thoughts?

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