FX.co ★ Weekly analysis on the Dollar index

The Dollar index is making new higher highs by trading above the 96 price level. Price maintains the bullish momentum and follows our bullish scenario that compared the reversal from the 89-90 level of 2020 to the reversal of 2017.

Blue lines- expected path

When the Dollar index was trading around 89-90 we mentioned the similarities to the pattern it followed back in 2017. Price looks to be accelerating to the upside. Our next target remains at 97.50-98 as we mentioned in our latest analysis. So far bulls remain in control and there is no sign of a reversal.