Friday’s rebound from 50-DMA if followed by a daily close today above 1.2582 would open the doors to 1.2706-1.2773 (upper Bol Band). The ADX has been flat lined for quite some time…hence the odds of the trend gathering pace are high. A move higher to 1.27 could also yield a bullish crossover on the DMI.
On the downside, a daily close below 50-DMA would add credence to bearish DMI, push RSI below 50 and thus could yield a sell-off to 1.2255 (Jan 18 low).
On the downside, a daily close below 50-DMA would add credence to bearish DMI, push RSI below 50 and thus could yield a sell-off to 1.2255 (Jan 18 low).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.