When referencing the dollar index weekly time frame chart below (Fig 1) we see the USDX has formed a so called “bullish outside week“. These patterns from when a candle closes higher than the open, having completely engulfed the previous candle. Price had moved as low as 79.58 on Wednesday prior to paring back earlier losses and closing around 23 pips higher on the weekly basis. The USDX is now above the 80.00 handle once again. A sustained break above last week’s high opens up a potential move back towards the 50% corrective level. Prior to this is the descending trend line area which is located just above last ... (full story)