CLICK ON CHART TO ENLARGE
U.S. Dollar has rallied a little over 6%, since bouncing off of rising support line, highlighted in this post (see post here). This rally has caused the usual challenges, some softer international and commodity prices. The Dollar now faces its first big Fibonacci and channel resistance test at (3). A natural breather for the Dollar is due right now.
If the Dollar quickly powers through this resistance, equities and commodities will see much more downside pricing pressure! I remain comfortable attempting to score on defense in the 500 index and Gold/Silver arenas with stops in place.