Zooming out to this Monthly GoNoGo Chart® of the US Dollar Index 
DXY provides an important intermarket relationship causing headwinds for equities. Dollar strength continues the "Go" trend conditions in July on strong blue bars. GoNoGo Oscillator® is sustaining overbought conditions as momentum rallied through 2022.
Strength in the US Dollar is unquestionable. This breakout in June puts the trend above multi-year resistance with some Wall St. analysts projecting future price targets that haven't been seen since 2002. In short, the trend is in its strongest bullish conditions and there is ample room to the upside before reaching the next clear overhead resistance area.
DXY provides an important intermarket relationship causing headwinds for equities. Dollar strength continues the "Go" trend conditions in July on strong blue bars. GoNoGo Oscillator® is sustaining overbought conditions as momentum rallied through 2022. Strength in the US Dollar is unquestionable. This breakout in June puts the trend above multi-year resistance with some Wall St. analysts projecting future price targets that haven't been seen since 2002. In short, the trend is in its strongest bullish conditions and there is ample room to the upside before reaching the next clear overhead resistance area.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.