Right now it looks to me like it may develop an inverse head and shoulders spanning 7 or 8 months. I don't usually pay a lot of attention to HS patterns, but this will be a big one. It's more about the lower high, or in this case higher low than anything HS related. Across multiple months it's a strong indication of impending trend change.
Trade active:
Closed the week with a hammer up through resistance. Should be strong next week.
Comment:
Longer term I agree with fn–wujan's chart. In the short run I think we'll see a rebound for DXY. It's worked itself into a triangle that should break up.
Trade active:
Not sure how far this will drop, but a couple possible support levels are shown on the chart. Trading EU from the short side and waiting for a final high to add.
Trade active:
still looking to dive for new lows, but we may get some moves up near term, especially if the stimulus bill gets through Congress.