Last time we looked into the U.S. Dollar Index (DXY) we gave a bullish signal on two targets (January 24, see chart below), one of whom is already hit:
The long-term pattern is a 1-year Channel Up and currently the market is on the Bullish Leg to price the 3rd Higher Highs of the pattern. Target 2 (105.900) is on the 0.786 Fibonacci retracement level of the previous Higher High.
This time we set an even higher target for the Channel Up peak, which last time came after a +7.85% from the bottom. Based on that we expect 108.500 by June.
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **