« DailyFX Forex Radio - Bernanke's Forecast For A Recession Weighs Dollar, Overshadows Dour UK Housing Data | Home | How & Where to Set up a Free “Practice” Currency Trading Account. »
The Dollar Hangs in the Balance! Will Make a Major Move in Upcoming Days to Week!
By Sean Hyman | February 27, 2009
Here’s a heads up! Watch the dollar index. Once we see if this double top holds or breaks through…we’ll see the dollar direction for the upcoming days to weeks minimally. Click on the chart below.
If the Dollar index breaks higher, you will see the EUR/USD break down into fresh lows. If the USD Index double top holds, then EUR/USD and AUD/USD, etc. should come off of their lows and head much higher.
Tags: currencies, currency, dollar, euro, forex, fx, index, invest, market, money, Sean Hyman, spot, trade, wealth
Topics: What To Look At In The Market |
February 28th, 2009 at 11:04 am
That’s a very interesting analysis!
I usually don’t look at the dollar index graph. Maybe you found some gold here…
March 1st, 2009 at 6:43 am
Thanks, it is useful for me!
March 3rd, 2009 at 12:56 pm
Glad to know this is helping you guys out.
Definitely a broad dollar based move happening at the moment. The euro sure is paying the price for it.