DX1! - Weekly Market Update, 5/16/22

US Dollar index continues to grind higher. It's clear the dollar is the safe haven that the market is gravitating towards during this recent downturn as we are witnessing weakness in the gold futures market as well. The dollar as broken through and settled above an area of know resistance. Looking back, we've just traded higher than where the dollar had peaked prior to the Covid-19 initial sell off. I see longer term descending resistance currently @ $110.XX. Wishing you a blessed and profitable week!