US Dollar downside targets

3 Mar

Posted in General Analysis & Commentary by Bob English at 12:19:29 No Comments

Well, it took a bit longer than we thought, but the US Dollar Index has broken major support. Two downside targets are highlighted below that each contain long term pivot and Fibonacci support. With the ES close to entering the 1127 to 1147 range from January, any further downside in the Dollar would help equities power through resistance.

Click for larger image.

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Recent Comments
- ahmedm: I see TLT dropped sharply after 1 PM
- Bob English: That’s a discretionary question I would take on a day by day basis taking into consideration the...
- Jeff: Does the lower range have a lower likelihood of holding as support now that we are in the afternoon?
- Bob English: Thanks. Any dates you can thin of? June 21 high was on Yuan devaluation.
- ahmedm: China has announced CPI to be released on Saturday as opposed to Monday – they have announced negative...
- Bob English: Euro setting lots of records that aren’t good. ES did bounce from S-PP and Q-PP overnight.
- mahmed: 1093.75 did not hold; gold is at record high; gold in Euro could go higher again.
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US Dollar downside targets

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