Wednesday, July 19, 2017

Dollar Rebound?

Two months prior to the election, the Dollar Index (DXY) broke away from its strong Primary Uptrend support line to max out at 103.82 by year end.  Then the Dollar declined – along with great expectations from the Donald Trump presidency.

With the honeymoon long since over it is now possible that the Index has finally bottomed.  If so, yesterday's low print of 94.48 (actually 94.47+) matches that of the September 8th breakout low.

There is a gap at about 100 to fill
(clearly seen in the Dollar/Euro pair):

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