The DXY is bouncing off of the top of a wedge pattern going back to highs in late 2022.
The bounce has recaptured the 50 dma, which is on its way to crossing the 200 dma. This is otherwise known as the "golden cross" which can sniff out bullish reversals or starts to an uptrend.
The falling wedge target for DXY is near the 117 level.
The bounce has recaptured the 50 dma, which is on its way to crossing the 200 dma. This is otherwise known as the "golden cross" which can sniff out bullish reversals or starts to an uptrend.
The falling wedge target for DXY is near the 117 level.