That is the title of my post today – the ALL important US dollar index. If you have positions, you will need to monitor the US dollar index.
I had been waiting for the US dollar index to reach 79. The low today is 78.33 thereabouts, while the high is 79.38. It is just a nose away from the psychological resistance of 80. The last time it breached 80, the US dollar index closed below 80 for the week and reversed to 74.9 thereabouts closing down 14 days out of 22 days.
Why am I so excited with the US dollar index? I feel that when it reaches 80, the whole drama is about to settle down or that the outcome on the whole European crisis is about to be revealed – in other words, I am speculating that this down trend is about to reveal the ...
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