The Dollar Index Chart (DXY) is basically the reverse of the Euro chart, as can be seen on the daily comparisons below. To me the formation still look bullish for the dollar as long as we remain above 94.30 (below EurUsd 1.1675)on a daily closing basis, which keeps the head and shoulder formation intact, and allows for an… Read More »
DXY: 101.35 The DXY rallied strongly last week, reaching a high of 102.05 before settling at 101.36. In making its move, the index briefly took out the important Fibo resistance seen at 101.80 (61.8% of 121.02 (July 2001 high)/70.72(March 2008 low) and although this will again be difficult to overcome, a sustained move higher could […]
The post DXY: Some consolidation is due, but longer term outlook remains very bullish #dxy #dollar #fx #forex appeared first on FX Charts Daily.
The DXY today made a new 13 year high at 100.57, taking out the December 2015 high at 100.51 in doing so, before correcting a little to currently sit at 100.33. The daily momentum indicators suggest that the….