Dollar Index

[maties]

The Monthly Shows a possible SHS formation if the "first" shoulder support is holding at 84.50/85.50.

The fib resistance lines indicate that the dollar index stop against the second line. it may find support against the first one and the 85.50 level.

 

[maties]

The weekly dollar index shows that the index may find support at the previous low at 85.50. If not then the only support left is the last fib support and the previous shoulder of the SHS formation that could be formed.

 

[maties]

The daily dollar index gap is at 89.50. Will the dollar index find support at 85.5/84.5?

If not then the dollar index is targeting the previous low of end2004/jan2005?

The euro long contracts/short dollar is very high at this point. Could indicate a reversal or pullback.