Dollar at a Turning Point: Base Building for a Breakout

We believe a longer-term base is developing for the US dollar. At present, the market has reached a key level of resistance — the same level we saw at the end of 2023. While near-term consolidation is possible, the broader picture suggests strength.
Key points:
- The 200-day moving average has been eroded, with three closes above it.
- The monthly chart shows the dollar bouncing off a very long-term uptrend dating back to 2011.
- This structure points to a positive long-term outlook, with dips offering potential buying opportunities.
- The base suggests upside toward approximately 104.

Disclaimer:
This post reflects market observations for educational purposes only. It is not financial advice. Please conduct your own research or consult a licensed professional before making trading or investment decisions.