The price action of the chart has also lead to a shape similar to a , which is only something that precipitates a rise once the instrument breaks out. Currently having taken shape at a zone of heavy demand, odds are likely that buyers are ready to step in and push the prices higher as sellers likely have run out of steam.
Comments from President of the United States, Donald J. Trump, has lead to some recent decline in the dollar. His remarks about the strength of the dollar being too powerful has led to a temporary sell-off. Will his comments lead to a weakening dollar overall? Or will his comments have merely allowed for some sideways action within the zones? This effect only giving time for the index to rally at a later date and time. Perhaps we must all wait and see for where the Dollar Index will go from here.
Also, post-France's elections, with President Macron now being France's political leader, the Euro seems to be headed for some decline just after it's sudden leap in points. Was the surge in price too quick? Perhaps the speculation has lead to buyers acting too apprehensive, and sellers are trying to take control, pushing the Euro to new near-term lows in the coming weeks and months.
(The Euro makes up a large percentage of the Dollar Index )