Double long term trend bottoming.

Aug 31, 2020We may have an overshoot down to the 91.60 - 91.45 area. Red lines represent major overhead resistance for a rally. Will update after Monday settlement.

Aug 31, 2020

Comment

Circled green area is very telling of the systemic upward pressure on the dollar, especially against the Euro. DX is weighted heavily against the Euro.

Don't obsess over USA domestic issues or Fed policy so much that you forget the EU has been at negative interest rates for years, and that Japan's central bank is literally buying stocks. The dollar is old, people will hedge themselves in it.