The Dollar: Pullback not Reversal

TVC:DXY   U.S. Dollar Currency Index
The Dollar has shrunk from channel resistance. As long as it remains in this channel, bullishness remains. A bounce off trendline support in the 95.6 area is preferred, but we could still see a test of 95 flat. The latter case would imply sizable bounces in the Euro , AUD, and Gold . Of course, if the bullish thesis holds, these will bounces to sell, and in the case of the Dollar, the dip to buy.

I project a measured move to the 102 area in the coming months, which should provide the next consolidation zone.


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