The dollar has risen versus its major currency counterparts despite a late week downside correction; this came after the heavily weighted EURUSD currency pair rallied almost 200 pips on Thursday along with cable and other majors. This correction on the USDX came after price had penetrated the key price pivot level at the 79.70 area; this had confluence with a 38.2% Fibonacci retrace of the swing lower from 13/01/2012. A further corrective move lower could potentially be seen as the long upside shadow on Thursdays candle, coming at a confluent technical area, has the look of a swing point. Admittedly this is heavily ... (full story)