In 2005-2014 Symmetrical Triangle is detected (highlighted in black). It broke out above 84.50 upside.
And it was very important signal. From 1985 USD index was in deep downtrend crashing from sky high at 164 level down to 70 level. Lost more than half!
Now we are in my humble opinion spectating and I hope participating in new era of dollar strength.
Break-out targets triangle's height (highlighted in green double arrow) from the upside of triangle. It's 106 level!
But it's not the end of the story. Previous multi-decade high at 121 level can be also reached and even beyond as it's 50% Fibonacci retracement level (highlighted in green).
I think that we are at the start of new Super Dollar Cycle - it can take another quarter century!
And it was very important signal. From 1985 USD index was in deep downtrend crashing from sky high at 164 level down to 70 level. Lost more than half!
Now we are in my humble opinion spectating and I hope participating in new era of dollar strength.
Break-out targets triangle's height (highlighted in green double arrow) from the upside of triangle. It's 106 level!
But it's not the end of the story. Previous multi-decade high at 121 level can be also reached and even beyond as it's 50% Fibonacci retracement level (highlighted in green).
I think that we are at the start of new Super Dollar Cycle - it can take another quarter century!