The US Dollar Index continues its weak recovery with weekly momentum remaining increasingly bearish..
The US Dollar Index continues its weak recovery after hitting new 2017 lows with weekly momentum remaining increasingly bearish as it's done since late-Q1. Since the Index fell through an area of converging TL's it has tested mid-96 support, however, bearish bias would be further confirmed on a break below 96.0 and then through 95.0. A breakout above TL resistance may negate this in the short-term.
The MACD formed a bearish down-cross during late-Q1 since with an expanding negative histogram. Further falls seem likely from here. The Stochastic have been forming bearish lower-high's for all of 2017 becoming overbought during mid-Q1. Approaching the mid-point continuing its bearish descent. http://bit.ly/2rj3UJF
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