The dollar index made a nice bounce back up from the lower green range. The Stoch Rsi indicator shows a possible bullish crossover and the Adx indicator shows a very weak bearish trend meaning that its more then likely the bulls will take over.
Because of this I see the dollar gaining some strenght this week and the dollar index attacking and breaking 100. It's most likely that this will be fueled alot by the Usd gaininst most of its strenght against the Cad and Jpy (see my Jpy chart).
If you're less bullish than I am on the Dollar then you should wait till the lower range breaks (around 99.40) and then sell the Usd
Everyone is watching the falling wedge on DXY. I agree it looks like a wedge, and my own upside target longer term is 108. However I fail to see what is going to cause the wedge to end and an upside breakout to occur. The French elections on May 7th might provide a trigger if Le Pen gets a surprise win, and I suppose there's a possibility of conflict with North Korea. But economic growth in America has weakened slightly, retail and car sales are declining, so there's less pressure on interest rate rises. Yes, the wedge looks like a good idea, but I simply can't see any logic for it to resolve on the upside at the moment.