Today we look at a Daily Dollar Index Chart now that we have FED day over and there are some interesting developments. Just like the EUR/USD chart I put up yesterday, we see that Dollar Index spent the last few days under that major 81.80 resistance level, but as I pointed out in the EUR/USD anaylsis yesterday, that seems to be misleading. As we look at our ACC/DIST (market breadth indicator) we clearly see that recent price action has been decidedly above prior resistance despite price action telling us otherwise. With this in mind, it would be supportive of a bearish view on risk assets and I would be looking to continue fading moves lower on Dollar and considering selling risk assets against it (Commodities, EUR/USD, Equities).
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