DXY Looks Like Hot Garbage on the Monthly Chart

To me, this pretty is simple and straight forward. As long as down trending resistance isn't broken, further downside is in the future. I almost forgot to mention the big fat M that has formed on the chart with only a very weak area of support to stop it. Two similar cycles have been identified on the chart. The current red cycle should have been in an uptrend if it were going to follow the green cycle that preceded upside.