the Dollar Index as of March 13, 2016

here’s the near perfect pattern that began this monster advance in the dollar:

april-29-dollar

additionally here is a very long term chart of the USD Index:

US_Dollar_Index_from_Stooq_dot_com

I put my own levels on it below …

Page_16-03-13_16-40-25

some things to note:

  • even in the midst of this monster rally – we still haven’t hit a .382 retracement from the all time high
  • the low was – almost exactly a .786 price projection
  • note the RSI – we blew thru the old resistance and note how the “log” trendline that acted as resistance was most recently support.
    • also, note the trend line connecting the highs on the RSI … believe we should/will find support in/around here and the Dollar should start a new move.

here’s where I think we are …

Page_16-03-13_16-59-08

this one is tough … we have the ECB last week and now the FED upcoming. Believe we will see the move occur next week.  It’s almost a year since the high was made in 15.

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