Dollar Index Breaks Down and Remains Market of Consequence
|All eyes are on the U.S. Dollar Index (DXY).....
In that my work argues that today's violation of multi-month support at 99.40/20 has triggered a significant sell signal, we need to watch resistance zones closely now, because my sense is that as the Dollar goes, so go the other financial markets-- bonds, equities, and precious metals.
Any rally from in and around 99.00 will meet very powerful resistance from 99.65 up to 100.00, which if hurdled, will neutralize our immediate concern about continued Dollar weakness or, an impending meltdown... Last is 99.11/12...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.