Over the past 3 quarters I've maintained the view that the US Dollar Index monthly chart technical setup reminiscent of the period 1981/1982 & 1998/1999 where multi-month weakness within an upward channel was followed by a sharp reversal & squeeze.
On the daily chart, we note the price testing it's downward trend line resistance., with potential for a break above.
Note: US Dollar shorts continue to cover their positions, which may also be a medium term upside driver.
On the daily chart, we note the price testing it's downward trend line resistance., with potential for a break above.
Note: US Dollar shorts continue to cover their positions, which may also be a medium term upside driver.