$ INDEX

DOLLAR INDEX
The dollar index has broken a crucial resistance trend line as well as 50DMA and now is poised for a possible trend reversal. The previous candle got resisted exactly at 100DMA and at a high point of a big black candle marked in circle.
Now the thing to watch is how the index behaves at this resistance if it is a trend reversal the index will successfully take support either at 75.91 or at 75.60/75.50 which is 50 DMA and will then bounce up above 100 DMA. The next crucial resistances are at 76.79 above which the target is 77.54.
A close above 77.54 will be highly bullish for the index and bearish for commodities, gold and equities.
According to me there is a fair chance that dollar index can go to 77.54 levels and may be close above it in coming days.
Please see the previous post about dollar index HERE