Posted by: rp on the 6th of Jan 2012 at 09:44 am
honzer- here’s my targets for the dollar (DXY index). same levels i’ve had on there for months but as i said yesterday, we need to break above the key resistance level that the dollar is pushing on right now (a solid break). i’ve drawn an early forming wedge, the top of which may or may not act as resistance on a break above that horizontal support. regardless, if we break out then T1 is the next target, even if we ride up inside the wedge. also note, however, the negative divergence in place so maybe a pullback soon before the next major thrust higher??
