The Dollar stays bullish

The Dollar index has formed what it appears to be a double bottom formation as shown on the daily chart. The double bottom formation is a bullish reversal trend, therefore the Dollar index may try to change its direction to the upside. The two bottoms that made up the pattern are on the 88.14 level, from that zone the index has formed its neckline or confirmation line around the 90.46 level. In case the index keeps rising, if it breaks above the 90.46 level and above the 55 day EMA (purple line), then the double bottom formation will be confirmed. A little bit higher we can see the 200 day EMA (blue line) around the 93.00 level, which could also act as resistance. To the downside, the 88.14 zone could act as support, but below that level, the 87.00 could also act as support.