The latest rally has me thinking that the U.S. Dollar is embarking on its next leg higher.
And this show of renewed strength (all within the current up-trend), is adding to market uncertainty and volatility.
Looking at the chart below, we are bullish the U.S. Dollar. Upside momentum is picking up after a pause at the MFU-3 price target area of 109.50. This reversal is bullish.
We continue to focus on the long-term chart, yet the daily performance is confirming the start of this next leg higher. We expect the next near-term target of 116 to be hit in the coming days/weeks and our longer-term MFU-4 target of 121 to be hit in the coming months.
$DXY – U.S. Dollar Currency Chart
Twitter: @GuyCerundolo
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