July 29th, 2010
Published Daily

DXY – NYBOT Dollar Index (Last:75.09)

by Rick Ackerman on October 23, 2009 2:28 am GMT

The pogo-stick bounces from moderately important Hidden Pivot supports have not been able to sustain loft, hinting of still lower prices to come. As a result, although short-term lows have been precisely predictable, bottom-fishing has yielded gains only to scalpers.  The 72.93 target given here earlier is still where I think DXY will get traction, but here are two lesser pivots you can use in the meantime as minimum downside objectives:  74.36, and  73.79.  Either can be bottom-fished with a very tight stop-loss, but as always, a decisive breach will indicate more downside to the next.

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