is giving a strong signal to buy, as evidenced by previous levels, while also completing a pattern.
Price will either consolidate for a while hugging the touchline, before rallying up (PURPLE), or go for the upper channel line, retrace, then rally on the break (RED).
Rally is set to complete near previous resistance levels, also forming a pattern, where price should head south on it's completion.
If it breaks the 78 price quote, expect to see a very bearish dollar on the foreign exchange and DXY.
On the other hand, we see that S&P 500 has hit global highs, and is expected to reverse very soon, since both of these indexes are almost negatively correlated, then I'd expect DXY to finish the dip around 78.6 at the least, before reversing to the 84 levels.
This is all assuming typical technical analysis, holding other economic and fundamental conditions constant.