Dollar Index Getting It Together Again

Posted by Serge 10 Jun 2011, 10:50 am No Comments »

From the more 'recent' highs in the dollar index  back in June of last year, down to the following lows in December of last year, the dollar rallied back 50% and in January of this year found resistance…which also coincided with the 200 day moving average.  Given the technical pattern we predicted a downside price target near $72, which was pretty much reached in May.

Now the dollar looks to try the 50 day moving average (yellow line) from below, which historically has been respected.  A solid move above 75 on a closing basis may lead to further upside.

 

 

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