US Dollar Index Forecast September 28, 2012, Technical Analysis

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The US Dollar Index fell during the session on Thursday as the 80 handle offered at the resistance that we suspected it would. This looks like a market is willing to continue lower, and with the news of the Spanish and Greeks willing to look for more austerity in order to receive funding put enough of a bit into the markets in order to sell off safety trades.

The candle for the Thursday session is fairly bearish looking, and it does look like we will more than likely attempt a move down to the 79 handle in short order. We still think the break of 80 to the downside a matter of it, and this move suggests that we may see the results of that. We are more than willing to start selling this futures contract on a break of the Thursday lows.As for buying, we have no interest in it at the moment.

 

US Dollar Index Forecast September 28, 2012, Technical Analysis

US Dollar Index Forecast September 28, 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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