we've discussed the dollar index a ton here over the past few months and noted the breakout of the downtrend resistance line in early September.  In conjunction with the EUR/USD previous post on EUR/USD it is conceivable for the dollar to give up more gains in the near-term and an interesting target area to us looks like the 77-78 area on the dollar index chart below.  a) it's 50% retracement of the move higher off the bottom and b) it's right at that breakout line (blue line).  something to keep in mind over the next few days or so.

Share Button