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South Central Iowa | Thought I would throw some Dollar Index charts up. Buy the rumor, sell the fact appeared to be alive and well on the rate increase. We'll see if the sell off continues, but I have noticed that most outlets are certain that we will see a higher Dollar.
First, forgive my mentioning of support as resistance. That is a mistake I made when I wrote on the charts. Kind of belies that I would like our Dollar devalued for export purposes, so it is actually resistance in my mind, haha. But both the bar chart and the point and figure chart are looking at a soft area support wise between 97.50 and 99.00. Other than that though, they are not in a terribly large amount of agreement. In the bar chart, if we can break the 100 area, look to support at 99.43 and if we can break through that, we should target the lower parallel line which crosses between 97.60 and 97.15 over the course of April. In the PnF chart, there is a sell signal at 99.00 on the Index and support does not come back in until 95.50. There is a vertical count target for the downside move which is at 96.00.
So if we can break support between 99.00 and 100.00 on the DXY, both my bar chart and PnF call for continued weakness and both are negative currently. My bar chart downside target is 97.60 and PnF is 96.00.
Edited by Conan the Farmer 3/19/2017 22:09
 (DXYMarch20.png)
 (DXYMarch20PnF.png)
Attachments
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 DXYMarch20.png (93KB - 77 downloads)
DXYMarch20PnF.png (97KB - 99 downloads)
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Dollar Index Charts
