DXY: Dollar Index Approaching Target at 94.20DXY Dollar Index Up 4.5% now and Approaching Upside Target at 94.20
After a brief period of consolidation off the early May highs
DXY has continued onwards towards the longer term target at
94.20. it's rallied 4.5% in the last 30 days. At 94.2 it will be 5%.
Stay long here and on USDEUR and USDGBP (see relevant
charts) until we get there, or just under.
It should come back 60- 70 pips to 93.60-93.45 again before it
rallies once more back to 94.20.
A break above here will in turn trigger further dollar strngth
to 95.11 at which point it should fall back to 94.20 again and
potentially lower still.
DXY is still one of the best confirming indicators for almost all
USD pairs, giving the clearest signals usually, and helping in
decision making and timing across most of the dollar pairs.
And right now it remains unstoppable. Don't stand in its way.
