The Dollar Index made modest progress last week toward a 108.01 rally target we’ve been using as an upside objective for the intermediate term. It should take 5-7 weeks to reach this number, assuming it is achieved at all. That is by no means assured, however. Until such time as DXY pushes decisively past the p=104.46 midpoint Hidden Pivot where it stalled last week, I cannot offer you a high-confidence forecast. More immediately, bulls will need to breach the 105.31 ‘external’ peak recorded on January 6 to demonstrate their staying power. _______ UPDATE (Feb 25): The Dollar Index exceeded the 105.31 peak noted above by a penny on Friday. That’s as significant technically as $2 overshoot, and it implies DXY will continue toward the 108.01 target. Gold will of course remain under pressure.