The US dollar index reached our target of 96.50 and went even lower after the US election results. The price is now bouncing strongly. As long as price is below the 98 levels, the short-term trend will remain bearish; but if bulls manage to hold this bounce, then the chances will turn in their favor.
The US dollar index has reached the important trend-line support at the 96-95.80 area and managed to hold above it. Bulls are safe as long as the price is above this red trend line. As long as the price is above this trend line, long-term bulls are safe. Bears, on the other hand, need to break to new lows and the market will sell off hard.
