Yes, Dollar index "Seems" to be strengthening... but wait a second first
A closer look from the past, dollar index has engaged in a descending triangle/wedge since hitting the untouchable peak at 165.
In actual fact, dollar index is weakening overall somehow because the rest of its corresponding currency pair (the other 6 majors-EUR, GBP, JPY, CAD, CHF & SEK) are much more fragile thereby making $DXY "apparently" getting stronger.
Blue line EUR/USD is the opposite mirror image of how US Dollar Index behave.
I reckon someway around 90 dollar or 200sma (highlighted green area), thats the reality of how rubber will meet the road!!
A closer look from the past, dollar index has engaged in a descending triangle/wedge since hitting the untouchable peak at 165.
In actual fact, dollar index is weakening overall somehow because the rest of its corresponding currency pair (the other 6 majors-EUR, GBP, JPY, CAD, CHF & SEK) are much more fragile thereby making $DXY "apparently" getting stronger.
Blue line EUR/USD is the opposite mirror image of how US Dollar Index behave.
I reckon someway around 90 dollar or 200sma (highlighted green area), thats the reality of how rubber will meet the road!!