DXY daily strong breakout

DXY had very strong and powerful breaks out hard from a falling wedge which is very bullish. Pretty soon DXY will meet with a resistance level that could act as resistance and that is 50 days MA and a rising trend line which was supported from summer 2021 till a few weeks ago. On another side, it breaks 20 days MA so it could boost the price. After the report for Nonfarm payrolls and unemployment which indicates FED will have to continue with an interest rate, there is really huge chance for DXY to break all resistance and continue its rise up. Having in mind that Japan's pension fund is in a huge financial problem after losing trillions of yen there will be even more push for DXY. SO DXY is bullish both from a technical stand of view and also from fundamental.

RSI moved out from bullish divergences and now is in a neutral area.
MACD similar to RSI, after activation of bullish divergences now is neutral.

Overall: after breaking out from the falling wedge, which was also analyzed several weeks ago, now we have the opportunity for DXY to retest BigRed which is a very likely scenario. But the first price needs to break through resistance at 103.75 which is the first major resistance. With breaking above that, there will be no issue for DXY to continue its flight to the Big Red.

Remember Powell will have a speech on 07 Feb where he could talk about the huge jobs report from Friday and which could indicate more interest hikes which will help the dollar. Also, there will be a lot of other FED members talking.