U.S. Dollar Strength Is Ushering In Market Volatility

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.

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$DXY – U.S. Dollar Currency Chart

us dollar currency strength bullish price target 116 121 month november

Twitter: @GuyCerundolo

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.