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FX Technicals: Is the US Dollar's Down Done?

The US Dollar has been relentlessly sold against FX peers since January 3rd, 2017 ….

shedding pips-a-plenty versus EUR, GBP, JPY, CHF, CAD, AUD, NZD … 

Uncle Buck has been pummeled ..

until now. 

 

Following a series of explicit failed new highs in early-mid March …

the USD weekly chart shows just one bounce attempt worth examining (at the end of March, from 3.27.17 – 4.7.17) ..

until now. 

 

DXY (Daily)

 

dxy daily super dmi and price channel

 

Relative Strength (RSI) Comparisons – 240 Minutes

 

The following two charts show composite RSI and DMI values for each individual currency. These composite RSI and DMI values are derived from performing data comparisons across all currency pairs.

 

Note that on 9/8 (the recent $ swing low of 91.01) …

the USD (in green) registered the lowest RSI value (26) and DMI value (-30) of any currency ..

and by a wide margin.

 

Now, the US Dollar sports the highest RSI and DMI values of any currency; suggesting that it may be primed for an upside breakout.

 

fibozachi forex force rsi comparisons

 

Directional Movement (DMI) Comparisons – 240 Minutes

 

fibozachi forex force dmi comparisons

 

USDJPY (Daily)

 

usdjpy daily bullish flag

 

EURUSD (Daily) – Gap Fill

 

For more EURUSD technical analysis: 

FX Technicals: Pre-Draghi

Why the US Dollar is About to go Up, and the Euro Isn’t. 

 

eurusd daily gap fill

 

EURUSD (Weekly) – Trendline Resistance

 

eurusd weekly trendlines

 

GBPUSD (Daily) – Price Channel

 

gbpusd daily channel breakout resistance

 

GBPUSD (Weekly) – Trendline Resistance

 

gbpusd weekly trendlines

 

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