US Dollar Index January 30, 2013, Technical Analysis

The US Dollar Index fell on the session for Tuesday as sellers stepped into the marketplace. It should be noted that the Euro is pressing up against the 1.35 level, and that a breakout above that in the spot Forex pair would have a massive effect on this market. This is because the Euro is 40% of the valuation of the US dollar, and as a result a breakout would be pretty significant. With all this being said, it does appear that we will continue to go lower, but with a nonfarm payroll number coming out on Friday, anything is possible. Because of this, we choose to stay out of this market but do recognize the fact that the Dollar is getting weaker. However, we choose to play this in the Forex markets, not the futures pits.

 

US Dollar Index January 30, 2013, Technical Analysis
US Dollar Index January 30, 2013, Technical Analysis

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