Articles
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Dollar Index
In our Nov 20th outlook for the dollar index we stated: “For now, our outlook remains ‘bullish’ and – as we stated in our Nov 11 closing remarks “as long as the index does not close below 94.94 (10 month EMA) we will be looking for this market to continue trading higher into early 2016”.” However, on Nov 20th we also saw the potential of a 1-2 week gold rally and – for this reason – also stated that we would “not be surprised to see the dollar index rally early next week but then trade sideways (to down) into the end of November.
As shown on the daily chart below, the dollar index took one week longer than our outlook to trade back down off the 100.00 price level:
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