US Dollar Index Futures Forecast October 25, 2012, Technical Analysis

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The US Dollar Index rose during the session on Wednesday as the markets continue to be concerned about many things around the world. We tested the 80 handle yet again, but fell just short of closing above it. We hit the top of the recent consolidation area, and it is looking more and more like this market will eventually breakout to the upside.

Alternately, we could find this area too resistive and is simply bounce around between 80 and 79 for some time, which of course brings up in lot of short-term trading opportunities. Until we break out to the upside or downside for that matter, we simply must assume that we will continue to consolidate. With this in mind, if you a short-term trader, this could be the best market out there for you right now.

 

US Dollar Index Futures Forecast October 25, 2012, Technical Analysis

US Dollar Index Futures Forecast October 25, 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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