US Dollar Index Forecast September 6, 2012, Technical Analysis

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The US Dollar Index had a negative session on Wednesday after initially gapping higher. However, the 81 handle continues to support the market and as such we feel that the Dollar is still going to find a bit of a bid in the marketplace. As long as were above the 81 handle, there is still a threat to the upside and a continuation of the consolidation that’s all 84 as its top. Because of this, we will not short the dollar presently and are waiting to see if we can break above the recent cluster of resistance at 81.75 in order to go along of this futures contract.

US Dollar Index Forecast September 6, 2012, Technical Analysis

US Dollar Index Forecast September 6, 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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