The USDX (dollar index futures chart shown below) has continued its move to the downside; the $83.67 high following the bearish engulfing candle has seen a near-term high for the dollar index. Price is now trading close to the 38.2% Fibonacci retrace of the last wave higher. This comes just below the 13/1/2012 prior swing high at $82.03, a level which has previously seen resistance turn to support. The close near the range lows is threatening a breakout of the consolidation area seen since late May 2012. This comes as the heavily weighted EUR/USD trades close to the 1.2650 price pivot zone. Market sentiment has not ... (full story)