20 May 2013

USDX : Chart Update

  • Monthly : 2nd attempt to hold above resistance line, looks like will be successful after a false break in March and re-entry in April. Bullish to 88.80.
  • Weekly : Above previous high of 84.25 now. Some fierce follow through would be nice. Failure to hold above will likely lead to a squeeze on bulls.
  • Trade : For now, have to assume it's bullish. Next release of US NFP probably will make or break this assumption. The potential SHS top in EUR/USD has a large say in how this will turn out (same trade, really).

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