DXY – NYBOT Dollar Index (Last:87.06)

The Dollar Index has met all of the tests we proposed for it earlier, earning the presumption of more upside to at least 90.06, or possibly to 92.48.  In the meantime, bulls have gotten traction Monday night with the creation of a fresh impulse leg on the hourly chart that had eluded buyers during the regular session. This portends more upside over the near term to match — and possibly exceed — last week’s 87.46 peak. _______ UPDATE (11:46 a.m. EDT):  As expected, a very powerful rally has pushed DXY to a so-far high today at 87.45 — a single tick from our first target.  Still-higher prices appear likely, since buyers showed no timidity in approaching last week’s imposing high.