Wednesday 22 September 2010

€$ & US$ Index

It seems certain that price will at least try to reach the CL of the green ML set in the USDX...However as per the weekend post the next upward 'lift' could come from the reaction line arrowed below in red. All this points to further US$ weakness for the next week or so at least and we could see the euro well above the 1.3500 and remember the USDX is (i think) nearly 40% weighted by the Euro.












Now we have some overhead resistance at 1.3430-40

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