DXY Signs of Weakness

We have seen a significant strength on US Dollar in the past few weeks. Price is in an uptrend and as you see in the Daily time frame, it is moving on a daily ascending trend line.

The last major high at 105.00 has broken to the upside and although price has closed the past two days candles as bullish candles above this resistance level, we can see the bearish push on price right now and there is a probability of reverse.

If price closes today’s candle below the red resistance level at 104.620, the bearish reversal pattern has formed and we can expect a drop on US Dollar Index at least to retest the trend line around 102.850