DXY – NYBOT Dollar Index (Last:103.02)

The dollar bull is showing signs of fatigue, so let’s be ready for the first major correction in more than a year. It would not likely diminish prospects for an eventual move to the 112.14 rally target shown in the chart. However, DXY may first have to come down to the green line (94.22) before it has fully corrected the bull market begun in 2014. A plunge of that magnitude would undoubtedly be read by economists and pundits as a phase in the dollar’s demise, but it would actually make the greenback a screaming ‘buy’ from a Hidden Pivot standpoint.