Does U.S dollar have power for one more bullish run?

The last two setups I posted here for U.S Dollar index             were bearish:
1. Bearish Gartley (yellow)
2. Bearish continuation move from 97 - Structure resistance , 50 SMA line and 61.8 Fib
Both of them were successful

Now, $DXY             is sitting on an interesting support zone:
1. 200 SMA line (strong support)
2. Two previous trend lines (green and red dashed lines) that should act as support now
3. Near 94, the price will meet the weekly 50 SMA line.
4. 61.8 Fib retracement level to latest swing high

This zone between 94-95 is the focus zone for the next few days (perhaps till FOMC)

If USD has more bullish power in it, it may try to reach 97 again. There it will complete another bearish Gartley pattern (red pattern). That's actually an Aggressive Bullish C entry for those of you who familiar with harmonics - You buy the C point and trade the run towards pattern completion.

If $DXY             will fail to hold this support, it may head towards a daily/weekly correction move that could reach all the way down to 90

The RSI shows some bullish momentum following August's decline.

BTW             - The monthly chart shows that the price is right on top of the 50 Fib level after hitting the 61.8 Fib level back in April 2015.

I'm pretty neutral at this point, looking to see how the price will react to this week's news and If you read this week's Weekly Markets Analysis and the $EURUSD analysis, you've seen that $EURUSD is also facing a critical structure zone - 1.14 (see linked idea)

As long as $DXY             is above 95, I tend to be bullish (at least for the short term). If it'll drop below 95 towards 94, I'll start being suspicious although the 50 SMA line (weekly) near 94 is definitely a strong supporting element that can push $DXY             back towards 97 and perhaps even higher.

To subscribe to my newsletters visit -
Follow my blog on Tumblr -

Dollar about to reach PRZ - Reversal ahead?
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out