Dollar Index Forecast

The Dollar Index (DXY) during this year has had a performance close to 5.6%. In this article, we will review the Dollar Index (DXY) and our projections for the coming weeks.

The DXY during this 2018 is performing an upward cycle, advancing near to 10.5 per cent. The weekly chart shows that the Index is lateralizing in the area of yearly highs.

Long-Term Outlook

The Greenback in the daily chart shows that the bullish cycle is still under development. We foresee that a pending bullish target should be between 98.60 and 99.92. The long-term invalidation level is at 93.81.

Short-Term Outlook

In the short term, we expect the same movements that in the long-term scenario. The Dollar Index is developing a consolidation structure with a bullish bias. The test of the previous highs, suggests that the continuation of the major degree bullish cycle prevails. Finally, we foresee a bullish target between 98.69 and 99.92 as a final extension. The short-term invalidation level for this scenario is at 96.04.

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