Generally, the U.S. dollar index has been in a bearish setup since 1986 as can be seen by the black parallel channel. However, price has been trading in the lower half of the bullish channel which began in 2008 and broke resistance at 161.8% of the Fibonacci level thereby exposing the DXY into the upper half of the bullish channel.
In this view, I have a long bias with a price target of $111.43 (high resistance region).
In this view, I have a long bias with a price target of $111.43 (high resistance region).