DOLLAR INDEX (DXY) Trend Reversal & Strength

3 feb 2021

hey traders,

it looks like we finally see a confirmed bearish trend violation and reversal on DXY.

from 6th of January, we see the zigzag movement with 89.1 initial low, equal high retesting the December's lower high,
higher low and finally a new higher high higher close on a daily yesterday.

it is a classic price action reversal formation.

now in the mid-term, I expect more strength to the dollar.

The closest resistances to look at:
91.75
92.15

4 feb 2021

Nota

Check my new analysis on CADJPY: