US Dollar Index Forecast September 20, 2012, Technical Analysis

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The US Dollar Index rose during most of the session on Wednesday, but ended up falling in the end in order to form a shooting star. The 97.50 level acted as resistance, and the fact that we have broken down through fairly impressive support recently suggests to us that the US dollar will continue lower. On a break of the lows from the Wednesday session, it does look that the US dollar is going to continue much lower. Is because of this that we are interested in selling this contract, and do expected to be greatly affected by the run into commodities after the quantitative easing announcement of Federal Reserve.

US Dollar Index Forecast September 20, 2012, Technical Analysis

US Dollar Index Forecast September 20, 2012, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

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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