InvestingScope
Long

Dollar Index: Short and medium term Buy Opportunity.

TVC:DXY   U.S. Dollar Currency Index
The Dollar Index made a bottom (Higher Low within the 1M Channel Up) at the start of the month ( double bottom in fact) on 97.10 and has had a steady rebound since. We are seeing a lot of patterns being repeated within this long term (+1.5 years) 1M Channel Up ( RSI = 56.888, MACD = 0.590, Highs/Lows = 0.1904, ADX = 35.134).

The one that stands out now on the 1D chart (and is the one leading our positioning on DXY ) is the rebound on the 1D MA200 following the bottom (Higher Low), that has led in the past to a new Higher High. The 1D RSI sequences are also similar, thus we are expecting a strong rise within the coming 2 months. Our short term Target is 99.25 and the medium term 100.30.





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