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Posted January 19, 2013 3:59 (GMT) | By FX Empire Analyst - Christopher Lewis | Print | Font Size | Add a comment
The US Dollar Index had a strong showing during the session on Friday, and even managed to break above the 80 handle. While this is in a major area, it does represent the midpoint between 79 and 81 which we used as the boundaries for recent consolidation. If you look at the longer-term charts, there is an upward bias lately, as we are starting to gently trend higher. Because of this, we are comfortable buying this market on a break above the highs from the Friday session as we think a return to 81 is well within grasp. However, if we break down below we would need to see a daily close below the 79 handle in order to start shorting.
US Dollar Index January 21, 2013, Technical AnalysisThis post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.
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