The Dollar Index rallied to test medium-term resistance at 81. Breakout above 81.50 would test the 2012 high at 84*. Recovery of 63-day Twiggs Momentum above zero suggests a primary up-trend.
* Target calculation: 81.5 + ( 81.5 – 79 ) = 84
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.