US Dollar Index Forecast September 21, 2012, Technical Analysis

posted
By FX Empire Analyst - Christopher Lewis
Print
Font Size
T
T
T
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The US Dollar Index rose during the session on Thursday, and even managed to break above the 79.50 level. However, some of the gains were given back by the end of the day, and it does look like we are still struggling to go much higher. This is mainly because the 80 handle is going to be so resistive, and it isn't until we close above that level that we become convinced that the market is a buy.

The next level above that that we would be concerned about is the 81.50 level. However, it does look like a nice countertrend trade is being set up right now and that we could be going long. As for selling, if we managed to break down below the low of the Thursday session, we would start selling aggressively.

 

US Dollar Index Forecast September 21, 2012, Technical Analysis

US Dollar Index Forecast September 21, 2012, Technical Analysis

Find a Broker
Continue to FX Empire Network