DXY Analysis | Jan 31, 2022

31 Jan 2022

Dollar index has been growing since June 2021, it has been staying up and downs inside an ascending channel. On Jan 13, 2022, it reached the bottom trendline of the channel and create a strong bullish confirmation. Then it backed on track of the bullish trend again, with some strong bullish candles. The index has broken the resistance of 97.000, but I think we will see a pullback to at least 38.2% or 50% Fibonacci, before continuing its uptrend move.