DXY US Dollar Long Term Analysis Daily Chart
The DXY has trended down for a long while. It broke out of the downtrend and then retested the breakout line, then clearly reacted to it to the upside. Discounting todays reaction to news and perhaps tomorrows ECB news, I think it is beginning a new uptrend that will continue into the new year. I really can’t see why everyone is saying the EURUSD is going up in the mid term to long term here. This is a classic reversal and retest. Textbook. It doesn’t get any clearer than this, at least right now, this is where we are headed. USD Long. EUR short.
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