$DXY continuing to form bull pennant

Anyone who has been watching DXY has been looking for a push above 105.

DXY has been in a daily uptrend since July 14th.

DXY is trading above the 200EMA in the daily timeframe.

The 26EMA crossed about the 50EMA on August 16th.

Though DXY has been in a weekly downtrend since Oct. 2022, it broke above a previous weekly high during the week beginning 29 May 2023.

If it does break, the next level of resistance is around 105.883.

Macro

The balance of trade, or trade deficit has widened less than expected but is still worse than previously.

The ISM services PMI, employment, business activity, prices, and new orders are forecasted to all decrease.

Let me know how you feel about the analysis and if you see any flaws or good points in it.

I appreciate you for taking the time to read. I definitely will be posting more like this in DXY, euro, and other relative info. Give me a follow and share!

Stay alert, and stay alive.

This is not professional advice. Trade at your own risk.