Dollar index long view, monthly chart
My view on the dollar index is very bullish. The first part of this year was marked by getting support at the 100.00 level. With the Fibonacci setting, we see that the pullback is stopped at 50.0% with a retest of the breakout point to the bullish side.
Based on these indicators, the dollar should continue to grow with a target above the previous high at 114.78 levels. Chart history tells us that the dollar index has lost over 40% of its value on two occasions. Now, it is on a trend to grow above the 115.00 level despite the large amount of money printed. Know that other central banks are printing money just like the Fed, maybe even worse. So next year, the dollar could be at the 118.00 level.
The attempt to collapse the dollar was in the middle of 2021, and we could expect the next attempt at the end of 2024 or in the first part of 2025. This is my opinion and view of the dollar index. Also, many global factors and news could influence future movements and trends, not just from the US economy.
Based on these indicators, the dollar should continue to grow with a target above the previous high at 114.78 levels. Chart history tells us that the dollar index has lost over 40% of its value on two occasions. Now, it is on a trend to grow above the 115.00 level despite the large amount of money printed. Know that other central banks are printing money just like the Fed, maybe even worse. So next year, the dollar could be at the 118.00 level.
The attempt to collapse the dollar was in the middle of 2021, and we could expect the next attempt at the end of 2024 or in the first part of 2025. This is my opinion and view of the dollar index. Also, many global factors and news could influence future movements and trends, not just from the US economy.
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