DXY finally broke down a bit this morning, dropping through the purple TL from Jun 14.It’s not much, but it does open the door to the larger move we’ve been expecting for the past 2 months.

The counter-argument:  EURUSD is approaching our next upside target – a backtest of the channel from which it broke down in July.  If it reverses there, DXY would likely strengthen again — particularly if the yen continues to weaken.continued for members…

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