USDOLLAR Fighting To Stay Bullish On Daily

13 May 2020

The charts show FXCM's USD index - the USDOLLAR. The left chart shows the daily time frame, where price has crossed above the black 20-day SMA (aqua ellipse). The RSI is fight to stay on the bullish side of 50 (blue rectangle). The right chart shows the hourly time frame. Here, the EMAs are looking to cross bullishly (green ellipse). The short-term RSI is already on the positive side of 50, denoting an underlying bullish moment. If the EMAs do cross and develop angle and separation, the hourly swing will support the daily RSI in its battle to move to the bullish side of 50.