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Long

Dollar index - Ready for new uptrend?

INDEX:DXY   U.S. Dollar Index
This month's price action in the DXY             has been extremely strong. It's hard to appreciate it from this chart, but there has been bull day after bull day recently.

Should the financial crisis highs of 2009 be taken out this time, we will have a very interesting setup for a strong multi year move up in the dollar. The coiling price action since 2008 could provide a really strong boost of energy if it should break to the upside.
snapshot
Interesting that we are playing with this upper parallel right now.
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If price respects the fork then we are looking at about 110.00 for the median line to be hit. If the highs are not taken out then it's Hagopian and the dollar is doomed! I don't see any coiling price action from 2008.
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snapshot
Looks like one giant consolidation pattern to me. We'll see what happens if we make it to old highs. I'm thinking we will.

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