The Dollar Index is testing resistance at 81/81.50. Breakout would indicate another test of 84.00. But 63-day Twiggs Momentum below zero warns of a primary down-trend. Breach of support at 78.50 would complete a head-and-shoulders reversal with a target of 74*.
* Target calculation: 79 – ( 84 – 79 ) = 74
this is the wrong chart.
Thank you for alerting me. I have corrected on the website.
Thank you, as always, for comprehensive outlook.
you posted twice the Dow index instead of the Dollar index.
Roni
Hey colin, you posted the Dow chart twice. I’d like to see the dollar chart, it’s a good one.
Thanks Colin, and no problem; I have followed your analysis for a long time now and this is the first time that I have seen a mistrarke.
I would like to blame it on Mercury; it was likely the work of that little devil since he went retrograde on November 6th. Maybe he lost one of his winged slippers and can’t find it in his confusion.
I would blame it on a high pollen count 🙂
Hi Colin
I follow your column on a regular basis
Just a small point you duplicated the Dow Jones index when you meant to use the dollar index under the us dollar heading
Thanks. I corrected the chart on the server but could not recall the email.