DXY – NYBOT Dollar Index (Last:74.05)

NYBOT Dollar Index (DXY) price chart with targetsThe Dollar Index has bounced, so far feebly, from within a hair of a minor, 73.82 support noted here on Friday. Although I seriously doubt the move will go anywhere, I monitor minor Hidden Pivots nonetheless because their resiliency, or lack of it, can provide useful clues concerning the longevity of the long-term trend.  In this instance, were DXY to close for two consecutive days beneath the more important Hidden Pivot at 73.51 also flagged here, I’d infer the 68.36 target of the long-term pattern shown in the chart would be well in play.  I’ve displayed it using intraday bars because I think the overall look of the pattern in this context is more persuasive than on the daily or weekly charts.