USD index chart analysis: anticipated reversal

Let's examine the weekly chart of the US Dollar index to get the long-term view:

1) the USD index is in a rising wedge technical formation 

2) it was at 88 last June and from there started to go down

2) it has now reached the bottom of the rising support at around 77

2) my gut feeling is that we might now get a reversal

Let's now turn to the daily chart:

1) the 20 daily moving average has not crossed the 50 daily moving average to the upside. According to the system I am using, there is no buy signal yet 

2) a bullish divergence exists between the price and the MACD technical signal: this is a signal that a reversal is coming

Previous posts regarding the US Dollar index:

- US Dollar index (August 12, 2010)

- US Dollar index: SELL signal triggered (July 14, 2010)

- US Dollar index: an update (May 20, 2010)

- US Dollar index (May 9, 2010)

- US Dollar index chart analysis (April 18, 2010)

- US Dollar index chart analysis (February 7, 2010)

- US Dollar index chart analysis (December 23, 2009)

- US Dollar index chart analysis (November 29, 2009)