DXY – NYBOT Dollar Index (Last:77.82)

NYBOT Dollar Index (DXY) price chart with targetsYesterday’s rally was strongly impulsive on the hourly chart, but since it is a flying pig whose behavior we’re measuring, we should want to make doubly certain of the bulls’ resolve by requiring an  impulse leg on the daily chart.  This will require a thrust exceeding the 78.69 peak shown in the chart. We’ve referenced the peak before, but two rallies so far have failed the test.  The third time may be the charm, though, and if DXY succeeds, we’ll be dollar bulls for the time being, like it or not.