There is a large 5 wave sequence for the DXY
to reach higher highs. However, we need to see a drop in price to create the 4th wave before the move higher. Price had a nice run up in the past few weeks, but it reached a monthly resistance level
, and retested the ascending trendline
it broke out of back in March. Also, a bearish engulfing
pattern at this zone of confluence. We should see a move down to 89.75 zone before the move higher.