The US dollar index ($DXY) posted an inside range during October, meaning the monthly high and low were within the previous month’s range, usually considered a consolidation pattern. However, a late surge was able to lift the $DXY to a close of 93.88, up 0.06 fr the month. September’s activity was a bullish key reversal indicating the major (long-term) trend had turned up and establishing an upside target range between 94.86 and 96.79. On its weekly chart the $DXY remains in a secondary (intermediate-term) uptrend with last week’s pattern indicating the a move to a Wave 3 rally. This would be confirmed with a move beyond the Wave 1 peak of 94.74 (week of September 21).