September US dollar index:
1. On Wednesday, July 22 it was noted that the September US dollar index (then trading at approximately $97.70) was expected to decline further and test $96.80.
2. There was some question about whether Thursday’s (July 23) session low of $96.95 was the above-noted completion with internal market strength keeping the market above $96.80.
3. Today’s (Monday, July 27) session answered that question by completing the natural level at $96.80 (today’s session low, $96.44) completing the forecast/trade. Will message any further entry or indication in the September US dollar index.
David Williams