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Dollar Index to Hit 88.5, then 'Collapse': Charts

The U.S. dollar index will continue rising over then next three weeks, but then collapse thereafter, Daryl Guppy, CEO of Guppytraders.com, told CNBC Thursday.

Guppy said he sees the U.S. dollar index reaching 88.5 in the coming three weeks and then "collapse" to 81.5.

"Volatility is the characteristic of the dollar index at the moment," he said.

In relation, Guppy said he sees the euro falling over the next three weeks and said that it must close above $1.30 "before we can say that the current downtrend pressure has eased."

He has a support-level target of $1.16 for the euro.

Indicators show there is some potential that the FTSE-100 index will move on "a rally-and-retreat basis," Guppy told CNBC. He added that "the FTSE has developed a double bottom."

The Shanghai Composite has a downside target of 2,200, according to Guppy.
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