What’s up, fellas.

The dollar index traded nicely in line with our forecast Shooting Star in the Dollar Index – Good Time to Catch Retracement. The idea was to stay bearish below  $96.75 as the dollar index was expected to take a bearish turn to complete retracement at $96.25 (23.6%) and $95.85 (38.2%).

Dollar Index – Daily Chart (Aug – 16)

Until now, the dollar index has completed the $96.25 (23.6% Fibo) and it’s ready to fly for $95.85. All this began with a candlestick pattern shooting star, which indicates a potential for a bearish reversal.

Dollar Index – Daily Chart (Aug – 20)

So, this week we can expect a slight buying in the dollar but right after that, the dollar index is very likely to go south for $95.85. Good luck!