Dollar Index at a Critical Level by the Yearly Pivot Point.
Index reached the D level prematurely (faster CD leg)
which, as often is the case, created an extended D point,
here the 1,272 extension. Index then turned nicely and
reached the mini-target of the whole ABCD127 pattern
and also the Technical ABCD mini-target (the 61,8 retracement
of the CD leg). This level (around 10360) has given support
three times and a LT Trend Line is also supporting index.
Index is now standing right at the Yearly Pivot Point, and has
failed to breach it for several days. Until it has been breached
the Index stands at a critical point. If it is taken out bullish
prospects increase. Still, the two retests of the 10 360 level
makes a heavy impression. The Yearly Pivot Point will be
the line in the sand for further development with a break out
higher or another retest of the mini-target level.
which, as often is the case, created an extended D point,
here the 1,272 extension. Index then turned nicely and
reached the mini-target of the whole ABCD127 pattern
and also the Technical ABCD mini-target (the 61,8 retracement
of the CD leg). This level (around 10360) has given support
three times and a LT Trend Line is also supporting index.
Index is now standing right at the Yearly Pivot Point, and has
failed to breach it for several days. Until it has been breached
the Index stands at a critical point. If it is taken out bullish
prospects increase. Still, the two retests of the 10 360 level
makes a heavy impression. The Yearly Pivot Point will be
the line in the sand for further development with a break out
higher or another retest of the mini-target level.