The US Dollar Index (DXY) is turning up from its rising 50-day moving average.
The reversal also comes from a confluence of technical support.
Our trading software and analysis have a buy signal unfolding for the US Dollar.
With this in mind, we also believe that there is a good chance of a move to the recent high at 110. A two day close above 110 would then target the 111 -112 area.
$DXY – US Dollar Index Chart
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The author or his firm have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
