USD U.S. Dollar Daily Chart Sideways Channel Two-Leg Bull Flag

The dollar and euro are projected to move sideways through their respective channels and the action yesterday did a lot to reinforce that move for the dollar. Note the huge jump from 82 the figure to near 83 the figure. The brown sideways channels remain in play moving forward. Of more interest is the potential pink two-leg bull flag pattern.  The first leg is from 79.0 to 83.5, 4.5 bucks, then the consolidation flag forms, where price moves sideways to sideways lower to absorb the energy from the up move, and then if the second leg up started at 81.5, the target is 86 (81.5 + 4.5 = 86.0). The trend line at the top of the flag shows 83 as a key breakout level which indicates that the higher second leg is likely on tap. The dollar is currently at 83 the figure contemplating the breakout. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.

Note Added 11:45 AM:  Dollar prints 83.40 moving higher.