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On the weekly chart, note the following:
-- Prices have continually moved though upside resistance levels.
-- The shorter SMAs are above the longer SMAs
-- Prices are above all the SMAs
-- All the SMAs are moving higher
Bottom line: this is a very bullish chart. The dollar has become the safe haven currency again.
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On the dollar's daily chart, note the following:
-- Prices have continually moved through upside resistance
-- The shorter SMAs are above the longer SMAs
-- All the SMAs are moving higher
-- Prices are above the 20 and 50 SMA. In addition, prices are right below the 10 day SMA, using it for technical support.
-- The market is technically approaching overbought levels.
Bottom line: this is a bullish chart.
