Is the Dollar Depreciating

Dollar Index is making bearish Head & Shoulders formation where below 79 it can target 76/74 levels. Actually H&S target could be 71.

Monthly Graph shows likely formation of symmetrical triangle and current leg may test 76.20 as probable support.

(Graph Source: NetDania)

The US Dollar Index is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies. It is a weighted geometric mean of the dollar's value compared only with

• Euro (EUR), 57.6% weight
• Japanese yen (JPY), 13.6% weight
• Pound sterling (GBP), 11.9% weight
• Canadian dollar (CAD), 9.1% weight
• Swedish krona (SEK), 4.2% weight and
• Swiss franc (CHF) 3.6% weight.

Comments welcome!