Crude Oil Longs Pending + Dollar Looks to Revisit 90.00

The US Dollar Index has once gained pushed back in an attempt to reach 90.00. Meanwhile, Crude (Oil) is set to push to new highs as economies reopen up globally.

After reaching 89.700, the Dollar has reacted bullishly with a hammer as the price looks to go back higher. This is a road bump in the Dollar’s path to 89.300. Traders can see price make a run at 90.00 as this level has been revisited countless times in the past few weeks.

In the meantime, Crude has been able to clear this year’s high. Traders can expect the price to push higher as vaccination numbers increase and Covid-19 restrictions ease up globally. Traders are looking to target 2018’s high near $77 per barrel.

With the Non-Farm Payroll release approaching, traders may see the Dollar extend further than 90.00. If the price does make it to there, we could see a Dollar reversal sooner than expected.