Dollar Index to Take Cue from Equities: "
The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.
NEW YORK (TheLFB-Forex) -- The latest signal on dollar index trading (DXY, recently at 75.50) was generated on June 10 when the index broke through resistance at 74.50 and rose.
The upside move has completed its near-term cycle, which hit a target at 76.50. The breakout move has also completed a near-term three-wave reversal that looks to have good support between 74.50 and 75.50.
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