While people are pessimistic with Dollar index.....
In these months, the money printing by FED has made investors worried about the depreciation of USD which caused the rockets of Gold , bitcoin and stock prices. However, please be aware of this potential retest pattern in the yearly chart.
In 2014, there was a bullish impluse which brought DXY to be traded above the downtrend line (i.e. the downtrend in the previous tens of year became invalid). After that, DXY has been trading between 88 and 103. 88 is an important support area because it was the previous low in 2018 and the highest point during 2008 and 2010.
A reversal bullish impluse here might bring us to continue the uptrend of dollar index in the next few years.
In 2014, there was a bullish impluse which brought DXY to be traded above the downtrend line (i.e. the downtrend in the previous tens of year became invalid). After that, DXY has been trading between 88 and 103. 88 is an important support area because it was the previous low in 2018 and the highest point during 2008 and 2010.
A reversal bullish impluse here might bring us to continue the uptrend of dollar index in the next few years.
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