From TradingView · · 40s
U.S. Dollar Still Rising
U.S. Dollar Index shows potential for continued rise despite recent pullback.
In brief
U.S. Dollar Index shows potential for continued rise despite recent pullback. U.S. Dollar Index may rise further as technical indicators and inflation data suggest continued strength. Originally reported by TradingView.
U.S. Dollar Index
U.S. dollar recently surged and some traders think it's still rising.
Technical Pattern
June's closing high of 101.586 pulled back and stabilized at same price zone.
Moving Averages
8-day EMA stayed above 21-day EMA indicating short-term bullishness.
Stochastic Indicators
Stochastics turning up from oversold condition suggest potential rise.
Inflation Data
Inflation surprised to the upside earlier this month with Fed meeting tomorrow.
The bottom line
U.S. Dollar Index may rise further as technical indicators and inflation data suggest continued strength.
