FYI: After surging 25% from last July through this March, the US Dollar index went through a “correction” phase in the second and third quarters of 2015. Since the middle of October, though, the dollar has been on fire. In case you weren’t aware of the recent strength, take a look at the chart of the Dollar index below. Since dipping below 94 on October 14th, the index has surged 6.4% and is attempting to take out its highs from earlier this year. On Friday, the index closed above the psychological 100 level. It is still holding that level and needs just a few more ticks to break out. Don’t expect it to be easy, though, because the prior highs could act as stiff near-term resistance.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/us-dollar-index-testing-resistance/
