DXY – NYBOT Dollar Index (Last:103.19)

The rally of the last two weeks has gotten past four small ‘external’ peaks without taking a breather, so this could be the start of a sustained move. There hasn’t been one since earlier this year, but this one looks capable of reaching a minimum 105.85. That’s the ‘D’ target of a reverse pattern begun from 100.82 on February 2. As always, an easy move through a D Hidden Pivot would suggest bulls are not yet finished. Potential thereupon would be to 110.95 (daily chart, A=104.64 on August 10). Gold bulls should take note, since an extended rally in the dollar would put downward pressure on bullion.

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