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Tuesday, September 4, 2012

US DOLLAR INDEX : DEAD CAT BOUNCE BACK ?

US DOLLAR INDEX IS FIRMLY TRADING @ 81.31 AFTER MAKING A LOW OF 80.97.

Whats next ? Has the dollar index bottomed out or still has some room  for downside? 

US DOLLAR INDEX STRONG SUPPORT IS @ 80.80 WHILE THE INVERSE COMMODITY GOLD HAS STRONG RESISTANCE @ $1704

TECHNICALLY US DOLLAR INDEX HAS FORMED COUPLE OF 1440 MINS BULLISH PATTERN SHOWING SIGNS OF UP MOVE TILL 81.80/82.28 & ANY SHARP UP MOVE ABOVE THE RESIS & TGT 82.28 & IF TRADES FIRMLY ABOVE 82.56 THEN WE SHALL WITNESS A SHARP RALLY TILL 84.48 - 86

LTP - 81.33


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