Shhh the dollar is up...and shorts are at decade extremes

Fundamentally everybody we speak to remains a dollar bear. This trade has worked well ever since the Fed March panic and the long term logic remains intact. Despite all the new negative 2021 dollar notes we are reading, the green back has not continued lower. The DXY is basically trading at mid December levels. Note the DXY has traded perfectly inside the short term negative trend channel since the rotation started in November. We are actually seeing the DXY put in the biggest up candle in a while today. Note the RSI has been diverging to the upside lately as well. Watch closely should the DXY decide breaking above that short term trend and start pushing above the 21 day moving average, currently around 90.15. After all, dollar shorts have been piling into the trade and are at decade lows (charts 2 and 3)...