In the Cash Dollar Index, DXY, these are the numbers to be aware of.
The March 09 high was 89.49. Our recent low was 74.23 in November 09, just last month.
That differential is 15.26 points. Half of that move is 7.63 points. Adding 7.63 to 74.23 gives us a 1/2 way back target of 81.86. The 81.85 to 82.00 level is the first stop on the rally train. 78.04 is a 25 percent retracement. Today’s high at 77.94 was extremely close to a perfect 25 percent retracement.
That is all.
Good Trading
