US Dollar Strength: Does This Rally Have Legs?

The US Dollar Index (DXY) turned up from a MOB band target around the 101 area.

I am currently bullish the US Dollar and looking for a rally to the 105.75 to 106.50 price area. At that point we will reassess the rally and wait to see if further strength comes into play.

And considering the extent of the decline, it may take some time to carve out a bottom, should that occur.

The signal would turn neutral/bearish if DXY fell back into the top of the MOB band at 101.75.

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US Dollar Index “daily” Chart

us dollar reversal higher rally price targets analysis chart february

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.