DXY at the trendline again, Will this be the reversal?

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US DOLLAR CURRENCY INDEX (INDEX:DXY)

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INDEX:DXY US DOLLAR CURRENCY INDEX

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The Dollar Index (DXY) has been in a long term downtrend and once again price has reached the trendline. Will it break? That’s the big question Forex traders are looking at right now.

Price has been in consolidation for a long time and if the trendline breaks we can start to see the DXY trending again and this time that will be to the upside.

I prefer to see a retest of the trendline and a break of the 91 level before calling this a trend reversal and start taking longs.

Kommentera:

This dollar breakout is offering a lot of opportunities across the USD pairs. Personally I'd like to see a pullback, retest and a (up)trend continuation from here on out

Kommentera:

Here we are, a dollar reversal finally. A LOT of opportunities across the market.

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