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mxb1961
Nov 1, 2016 1:16 PM

DXY correcting from last run up 

U.S. Dollar Currency IndexTVC

Description

DXY is correcting from last run up. However, for this trend to continue, the weekly ADX needs to turn back up along with the +DMI over the next several weeks if this is a breakout move to the upside for $. Possible indications of a strong up trend continuing could be a pullback to the 97.5x range which would be a 38.2% retrace, a pullback from ADX overbought range but +DMI remaining on top of -DMI, TSI remaining at or near 0, and RSI not dipping too far below 60 on the daily chart.

Weekly:
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