INTERMEDIATE TERM LOOK AT THE US DOLLAR (DXY)
Price Target: 108.00 (June 2017)
Zooming in from the Long Term Look at the US Dollar and looking over the intermediate (3 mo. to 6 mo.) term the minimum Price Target for the US Dollar based upon traditional measurement methods indicates a Price Target of 108.00. To help establish a time frame of the Price Target the Andrews Pitchfork was utilized. The Andrews Pitchfork projection suggests the Price Target of 108.00 will be reached in June 2017.
Zooming in from the Long Term Look at the US Dollar and looking over the intermediate (3 mo. to 6 mo.) term the minimum Price Target for the US Dollar based upon traditional measurement methods indicates a Price Target of 108.00. To help establish a time frame of the Price Target the Andrews Pitchfork was utilized. The Andrews Pitchfork projection suggests the Price Target of 108.00 will be reached in June 2017.
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The US Dollar moved down to the Median Line of the Andrew's Pitchfork (support), formed a Pivot Point reversing directions and is now headed higher. Measured price projection suggests Target of 108 to be reached in June 2017. Based upon this analysis there is no indication the US Dollar will reverse downward at this point. Expect the US Dollar to continue higher this next week.