Dollar Index Breaks Down and Remains Market of Consequence

Mike Paulenoff MPtrader

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...

Author

Mike Paulenoff

MPtrader

Michael Paulenoff has been a student of and a participant in the world financial markets for the past 26 years, since his graduation from the Georgetown University School of Foreign Service in 1979.

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