supported by an average of 200 daily and weekly on the one hand and Fibonacci 50% for the wave 103.80 - 88.14 the dollar rose, achieving its summit on Thursday at 97.64 before it started correcting.
The diagram above shows the strength of the RSI indicator by continuing above the 50 level and a positive crossover of the average 50 with the average for a hundred days and by continuing trading above the weekly hammer candle above the 200 average expected more upside and in return weak currencies against it.
On the daily chart, we note the strength of the RSI indicator by respecting the uptrend and trading above the midline, as we note the positive MACD indicator through the increased momentum and looking at the chart we note the continuation of the rise inside the upside channel and steadily above the bottom 95.70 targeting the dollar Top of the channel and price 98.20.
On the other hand, breaking the bottom 95.70 weakens the upside movement and directs attention to the lower boundary of the channel and Fibonacci 50 as shown in the graph.
