Dollar Index Reaches a New 2015 High in Front of Forthcoming Potentially Directional Catalysts

DXY hit a one-tick, 2015 new high at 100.31 yesterday. (11/30), but has turned a touch lower this morning to 99.80/72 so far.

What is interesting is that the new high was not confirmed by my daily RSI Momentum Gauge, which actually peaked back on Nov 6 at 99.35.

This is a warning that DXY could be nearing, or at, an exhaustion area prior to a significant correction.

Of course, this "warning" is occurring right in front of Fed Head Yellen's testimony before Congress this Thursday, the next ECB Meeting on Thursday, Friday's Jobs Data, and ahead of the Dec 16 FOMC decision that investors are betting will result in a 25 bps rate hike.

Be that as it may, DXY needs to press and sustain beneath 98.50/40 to trigger confirmed near-term sell signals.

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