US Dollar Index (Daily Chart) - Crucial Point

The US Dollar Index has been bullish recently, but it is now at the prior swing high.

Will it be able to cross over?

While the market has experienced "Risk-Off" for the past few weeks, we might finally see a rebound in the equity markets, which will add some strength to the USD.

However, this might not be sustainable.

We will need to see the price break firmly above the prior swing high to be sure of more bullishness to come.

Kommentera:

With the latest bearish engulfing near the resistance instead of a successful breakout, it is looking very bearish now.

Would rather be short than long.