Dollar Index Chart 3

DOLLAR INDEX - Bearish, Potential
Top Could Be In Place

Dollar Index - BEARISH, Potential top could be in place by DanV on TradingView.com

24 May 2013

Updates and comments

Earlier I felt that the April high was the top I was looking for, however, after retracing it went on to make new high last week. This has RSI divergence from July 2012 high and current high, also with April 2013 high and the last high and what appears to be slightly higher high recently on Daily time frame. So potential triple divergence could at least mark intermediate high if the final one. 

Though, if you look at my longer term chart and my view of DXY you will see that the recent high could be very significant.

If we do not get strong momentum move to the downside I will need to re-evaluate my entire analysis. But for now I am sticking to it as both from general technical analysis and from EW perspective it seems to fit.

One to watch as it could give indication of all major USD pairs direction for intermediate and longer term.

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