DXY
DOLLAR TO CONTINUE TO TRADE HIGHER IN DAYS AHEAD
The US Dollar index (DXY) reversed last week after hitting confluent support by way of a trend-line and the 200-day MA. The underside trend-line remains a line of significant interest as it holds together the bottom of a developing ascending wedge.
The wedge may take a couple of months or longer to fully mature, but for now there appears to be a solid gradually rising floor in the Dollar. The reversal candle from last week suggests there will at least be an attempt to trade higher in the days ahead.
Comment:
Target 96.66 has finished Y_Y
