The DXY gameplan (through halloween)

DXY has had quite the run and doesn't appear to be losing any steam. It just recently hit my July target level of 108 again... and this time I expect it to act as support as we gravitate towards Monthly R1, R2, and R3 levels. If I were to make a prediction as of today, it's that by Halloween (October 31) we will be knocking at 115.

While I don't know the actual path, crawling along this current trend line and having a major run up to 115 level would make the most sense to me. Markets move in waves, I do expect some down before a gigantic push to the top. Time will tell. Lose the trend line and perhaps the overall market gets a nice breather for a relief rally and we reassess.

Some interesting levels to note that are not quite as clear on my chart are Traditional Yearly R4 Pivot (111.1) and Yearly R5 Pivot (115.8). One of these could have a reaction as well. It will be important to watch price action as we get towards them for potential pullbacks.

Be safe out there!

Comment:

Total guess based upon limited data: This could be the new range forming that we will need to break.

Comment:

Broke a bit lower than my squiggles but price action is still tracking directionally exactly as expected...