June US dollar index:
1. Our previous update indicated that any testing hourly close above $79.77 in the June US dollar index would prompt new long entry for a possible test/attempt at $79.97 (or higher) into Wed. April 16 (+/-1 day).
2. Today’s June US dollar index tested the $79.77 buying territory and closed hourly above it, indicating new long entry.
3. Partial long position exit should be taken at current prices (current price, $79.86). The remainder should be held for the possibility of $79.97 (or higher) noted in the original update.
4. A protective sell stop should be placed at $79.78. This stop will be moved higher as the market continues to confirm.
June dollar index, latest update:
1. Continued hourly and daily close above $79.77 indicates a test of $79.97 (or higher) into Wed., April 16 (+/-1 day).
2. Although the above is a relatively minor indication, any touch and hourly close above $79.77 prior to Wed., April 16 (+/-1 day) should prompt consideration for new long entry which may run beyond the $79.97 target. Will update.