The downtrending pattern shown in the chart (click on inset) is such a beauty that I cannot imagine the U.S. Dollar Index not turning sharply higher from within a millimeter of its 91.57 target. It’s anybody’s guess how high the bounce will go, but it would need to surpass 94.64 to become technically significant.  However, it would take merely a print at 92.35 to turn the hourly chart bullish. Would that be the start of a major trend change for the beleaguered dollar? We may be about to find out, and soon. _______ UPDATE (Jan 3, 8:31 p.m.): I expected DXY to get closer to my 91.57 target than 0.18 points before turning higher, but we’ll take what we can get.  The target will remain valid in theory unless 94.22 is exceeded to the upside, so keep it in mind if DXY relapses.