US Dollar Reversal Signals Brew, But Will the Key Uptrend Hold?
The DXY Dollar Index confirmed a breakout under a near-term rising trendline from August as prices confirmed a Bearish Engulfing candlestick pattern.
This might open the door to some weakness in the near-term. But, will the dominant uptrend hold?
Keep a close eye on the 50- and 100-day Simple Moving Averages (SMAs). These could reinstate the dominant upside focus.
Resuming the uptrend entails clearing the 78.6% Fibonacci extension at 110.9316. That exposes the 100% level at 112.643.
DXY
This might open the door to some weakness in the near-term. But, will the dominant uptrend hold?
Keep a close eye on the 50- and 100-day Simple Moving Averages (SMAs). These could reinstate the dominant upside focus.
Resuming the uptrend entails clearing the 78.6% Fibonacci extension at 110.9316. That exposes the 100% level at 112.643.
DXY