Dollar Index: Short and medium term Buy Opportunity.The Dollar Index made a bottom (Higher Low within the 1M Channel Up) at the start of the month (double bottom in fact) on 97.10 and has had a steady rebound since. We are seeing a lot of patterns being repeated within this long term (+1.5 years) 1M Channel Up (RSI = 56.888, MACD = 0.590, Highs/Lows = 0.1904, ADX = 35.134).
The one that stands out now on the 1D chart (and is the one leading our positioning on DXY) is the rebound on the 1D MA200 following the bottom (Higher Low), that has led in the past to a new Higher High. The 1D RSI sequences are also similar, thus we are expecting a strong rise within the coming 2 months. Our short term Target is 99.25 and the medium term 100.30.
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