• 553 days Will The ECB Continue To Hike Rates?
  • 553 days Forbes: Aramco Remains Largest Company In The Middle East
  • 555 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 955 days Could Crypto Overtake Traditional Investment?
  • 960 days Americans Still Quitting Jobs At Record Pace
  • 962 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 965 days Is The Dollar Too Strong?
  • 965 days Big Tech Disappoints Investors on Earnings Calls
  • 966 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 968 days China Is Quietly Trying To Distance Itself From Russia
  • 968 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 972 days Crypto Investors Won Big In 2021
  • 972 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 973 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 975 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 976 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 979 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 980 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 980 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 982 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

US Dollar Breakout

The previous Friday's expected cycle low was successful in starting a rally last week in which the US Dollar had its best week since May. DXY gained 1.89% to close at 97.99 above the June 1 high and printed an engulfing bullish candlestick on the weekly chart.

A cup-and-handle pattern has been triggered (chart) and measures a minimum rally to 101.00. A symmetrical triangle on the monthly chart (not shown) measures a minimum move to 102.00 which is the 61.8% retracement of the 2002 bear market. 102.00 is also a 127.2% retracement of the Apr/May decline (chart).


Larger Image

 


Obtain your copy of the July Lindsay Report at Seattle Technical Advisors.com.

 

Back to homepage

Leave a comment

Leave a comment