DXY has been most of the time in a strong Weekly Rectangle Trading Range. As Professional Traders we will seek to take the most advantage we can out of the market. The 7 day RSI as slight divergence that signals an upward trend. Another factor is the trendline forming at 38 degrees that is inline with the previous bearish trendline at 36 degrees. Price has recently bounced from a low at 96.00 . I would aim for the 98.50 level.
Upward movement suggests that the USD will become stronger against other currencies.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.