DXY Dollar Index
The dollar never quite reached the upside target here, falling
11 points shy of the 95.15 line before it was met with the
most determined selling pressure we've seen throughout the
entire rally from the lows. And although it's rallied from the
94.01 support line it has broken below the lower parallel now
and so the 6 week-long 6% untrend is now in potential danger.
Any failure to hold 94 here will create more selling back to
93.36-93.12 range at which point it should bounce away to the
upside once again.
This break below 94 is also needed to trigger the next EURUSD
long, please see EURUSD update for more details.
DXY is still probably the best confirming indicator we have for
trading USD pairs.
The dollar never quite reached the upside target here, falling
11 points shy of the 95.15 line before it was met with the
most determined selling pressure we've seen throughout the
entire rally from the lows. And although it's rallied from the
94.01 support line it has broken below the lower parallel now
and so the 6 week-long 6% untrend is now in potential danger.
Any failure to hold 94 here will create more selling back to
93.36-93.12 range at which point it should bounce away to the
upside once again.
This break below 94 is also needed to trigger the next EURUSD
long, please see EURUSD update for more details.
DXY is still probably the best confirming indicator we have for
trading USD pairs.