-
Dollar Index Technical Analysis – June 17th 2012
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)
- Comments
- Subscribe
- Comment #1
- Quote
- Jun 17, 2012 11:59am Jun 17, 2012 11:59am
- Trout
- | Commercial Member | Joined Oct 2007 | 688 Comments
- Comment #2
- Quote
- Edited 1:43pm Jun 17, 2012 1:32pm | Edited 1:43pm
- fxprocessor
- | Commercial Member | Joined Dec 2006 | 25 Comments
- Comment #3
- Quote
- Jun 17, 2012 4:18pm Jun 17, 2012 4:18pm
- Trout
- | Commercial Member | Joined Oct 2007 | 688 Comments
- Comment #4
- Quote
- Jun 17, 2012 4:46pm Jun 17, 2012 4:46pm
- fxprocessor
- | Commercial Member | Joined Dec 2006 | 25 Comments