Weekly chart is well supported our bullish view

INDEX:DXY   U.S. Dollar Index
Talking Points:

  • DXY Technical Strategy: Bullish
  • Support: 96.80, 96.29, 95.55
    Resistance: 98.46, 99.66, 100.34

The DXY             is maintained its bullish momentum after bearish trendline channel and not changed from our earlier post. Testing its bullish trendline . Break of it will expose next support level at 96.80 followed by 96.29. Alternatively, move above the 98.00 will test next resistance zone at 98.46.

Elliottwave perspective we support this bullish momentum in immediate near term future, and predicting primary for flat correction or triangle formation for wave 4. On alternate, this move already in move for wave 5. In both cases, we are bullish for dollar and believe it will be continue for near future. To receive instance trade update and analysis, please subscribe us on twitter handle @hoagtrading
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