US Dollar Index Forecast September 13, 2012, Technical Analysis
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The US Dollar Index had and never week session on Wednesday, but did gain back some of the losses as it bounced off of the 79.50 level. The resulting candle is a fairly neutral, and spans the range from 80 to the 79.50 area, and suggests that we are trying to find some type of support.
However, with the Federal Reserve having its announcement later today we will certainly see some type of affect in this market. Our recommendation at this point in time is to simply stay out of this market until we see the reaction to whatever monetary decisions the Fed makes. This will certainly be far too volatile for the retail trader to be involved in.
US Dollar Index Forecast September 13, 2012, Technical Analysis
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Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.
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