US Dollar Forecast: Bulls Return, Is a Breakout Imminent?

US Dollar Shows Signs of Renewed Strength

Recent shifts in futures positions and a more favorable technical setup on the daily chart are helping the US dollar regain upward momentum. Although short-term movements suggest the possibility of a breakout, broader timeframes still indicate that any gains may be temporary within an overall downward trend.

On the daily chart, the US dollar is beginning to climb, hinting at a potential breakout that aligns with what appears to be a five-wave advance. If the price surpasses 100.50, the next target becomes 101, while a 241.4% Fibonacci extension from a projected wave 2 points just above 102—matching key resistance levels.