DXY – NYBOT Dollar Index (Last:73.10)

NYBOT Dollar Index (DXY) price chart with targetsDXY couldn’t muster the feeble rally to 73.39 that would have turned the lesser charts bullish yesterday, so let’s focus today on the 72.26 downside target of the pattern shown. It looks like a lock-up to me, so if you trade currencies, I’d suggest shorting there or at least exiting longs ahead of the dollar’s expected bounce. ______ UPDATE (May 3, 8:36 p.m.): Three days spent screwing the pooch has turned the short-term outlook for DXY into a coin toss. Continue to monitor the 73.39 benchmark, since its breach will at least postpone the predicted fall to 72.26, and thence to 68.36.