$DXY – NYBOT Dollar Index (Last:107.01)

Last week’s so-so bounce offered scant respite from the hard selling that has hammered the dollar since late September. Hidden Pivot levels aside, the Dollar Index looked sufficiently winded when last week ended to give us reason to expect more selling down into the void circled in the chart.  It is bracketed by two lows at, respectively, 104.64 and 101.30. Although I doubt the second will be breached by this long-overdue, hard correction, I wouldn’t bet the first will hold.

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