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Analysis of the US Dollar Index May 5, 2021


On the daily chart, we can notice the stability of the trades below the 50-day moving average, but with some positivity on the RSI, and the stability of the bottom of the demand area 90.373 as a strong support area, but so far the dollar index has not succeeded in achieving any real gains, the stability of the trades below the moving average, and the failure in Achieving a bullish breakout above 38.2% Fibonacci on more than one occasion, with the economic plan of the new American president and the negative tone of the American Economic Community, all of this does not support the US dollar, and we cannot talk about the beginning of a new uptrend except with an impulsive wave that succeeds in rising above 92.50 and then stability. Trades above that area

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