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US Dollar Index: Hesitates, Biased To The Downside Long Term
US Dollar Index: The Index’s failure to follow through higher on the back of its previous week gains has produced a doji-like candle pattern suggesting the coming week could see the Index coming under more downside pressure. If this is triggered, further declines should shape up towards its May 30’2011 low at 73.69 with a violation of that level triggering further weakness towards the 72.69 level, its 2011 low. Further down, a cut through that level will target the 71.509 level, its July 2008 low and subsequently its 2008 low at 70.79. On the upside, resistance comes in at the 75.81 level, its April 18’2011 ... (full story)