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Dollar Index Technical Update 10/2/2012
The USDX has closed the week as a doji. This is indicating that dollar index sellers may not be as confident as they were with regards to the previous downtrend. This is however coming after two strong down weeks and at the very least we would like to see a move above the 79.50 – 60 zone to confirm the recent selling is losing momentum. Price has closed the week at the same level as the 200day SMA. Average 60 days range is 64 pips – today gave 62 pips which is 94% of the ADR. The latest CFTC data has shown that speculators decreased bearish bets on the euro declining v the dollar as of the Feb 7th reporting ... (full story)
