Strengthening Dollar

The falling euro strengthens the US Dollar Index which broke through resistance at 76.00. Breakout completes the base which has been forming over the past 5 months. Retracement is likely; and respect of the new support level at 76.00 would confirm a primary up-trend, while failure would warn of a bull trap.

US Dollar Index $DXY

* Target calculation: 76 + ( 76 – 73 ) = 79