US Dollar Index Forecast January 29, 2013, Technical Analysis

The US Dollar Index did very little during the session on Monday as the financial markets in general were very quiet. With the markets being so quiet, this contract continues to grind sideways between 79.80 and 80.20 as we have for the last several sessions. Because of this, this is a very difficult market take any substantial trade and, and as a result we are currently monitoring it. If we managed to break above the 81 handle, this would be a longer-term buy signal, just as a breakdown of the 79 level would be a longer-term sell signal. Until we get one of these clear moves, anything in this market will be choppy at best.

 

US Dollar Index Forecast January 29, 2013, Technical Analysis
US Dollar Index Forecast January 29, 2013, Technical Analysis

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