$DXY – NYBOT Dollar Index (Last:108.92)

The Dollar Index has retraced slightly after pushing past the 109.30 Hidden Pivot resistance we were using as a minimum upside target. This has put into play the 112.20 ‘secondary Hidden Pivot’ shown in the chart. Expect a tradable pullback from that ‘invisible’ resistance, but if it gives way easily, that would imply that bulls are fixing to take this symbol to D=124.82.  Everyone should have noticed by now that the dollar’s strength has not inhibited the long-term bull market in gold. It has been in a holding pattern, presumably developing thrust for the next phase of its ascent.

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