Starting in Jul-14, the USD went on an unstoppable bull run for 9 months straight. This is not a prediction but history does tend to repeat itself, so it's always good to see what happened in the past.
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Since posting this chart, I remain bullish on the USD. The path of least resistance for the dollar's price remains up while the euro's path of least resistance is down.
That said, this is FOMC week and the Fed has the power to further fuel the dollar's run or reverse it. If the market thinks the Fed will raise rates 3+ times in 2017, that inflation is rising, and bond yields can keep rising, the DXY should surge beyond 102.50. If they think the Fed may only do 1-2 hikes we could see the USD plunge. Trade with caution this week.
That said, this is FOMC week and the Fed has the power to further fuel the dollar's run or reverse it. If the market thinks the Fed will raise rates 3+ times in 2017, that inflation is rising, and bond yields can keep rising, the DXY should surge beyond 102.50. If they think the Fed may only do 1-2 hikes we could see the USD plunge. Trade with caution this week.