Friday 8 October 2010

Dollar Index

I still have a feeling that the reaction line i have been blogging about for 2 weeks is going to put the brakes on the USD slide. The Euro is looking very toppy and price action seemed to change yesterday afternoon. I suspect that the Euro could get whipped this afternoon after yesterdays pop at 1.4000. If the uptrend for the euro is still intact which it maybe then we will soon know but if the DXgets out of the downsloping fork & pops up over the reaction line (arrowed daily & 60 min chart) at about 78.00 then we could see a rally up to test the d/sloping RL at 79.00

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