DXY Should resume the long-term bullish trend.

Last time we looked into the U.S. Dollar Index (DXY) we gave a bullish signal on two targets (January 24, see chart below), one of whom is already hit:


The long-term pattern is a 1-year Channel Up and currently the market is on the Bullish Leg to price the 3rd Higher Highs of the pattern. Target 2 (105.900) is on the 0.786 Fibonacci retracement level of the previous Higher High.

This time we set an even higher target for the Channel Up peak, which last time came after a +7.85% from the bottom. Based on that we expect 108.500 by June.


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