DXY – NYBOT Dollar Index (Last:82.14)

The bullish trend swung to a ‘duel’ between bulls and bears Friday with the creation of the bearish impulse leg I’ve highlighted in red. My hunch is that the news from Cyprus will arrest the selloff via a resumption of the dominant uptrend. If you’re looking to catch a ride, I’d suggest leveraging camouflage opportunities to be found at ‘x’ on charts of 15-minute degree or less.  If the next stab takes out the labeled peak at 83.51, bulls will gain locomotive force. ________ UPDATE (March 25):  The vicious chop of the last two weeks looks to be a consolidation for a test of August’s highs near 84. Any impulsive thrust that clears August 2’s 83.51 peak will imply that bulls are likely to surpass those highs without much trouble.