US Dollar Index Might Be At Pivotal Moment
13 November 2009
The FX Trader's view -
MONTHLY CHART: The recovery from early 2008 low found good resistance from the 38.2% retracement. In the process it breached a bear channel top projection suggesting long term bear momentum was waning. Subsequent deep pullback does not invalidate this observation. At this stage we are awaiting reaction after the test of the 76.4% pullback level - these can sometimes be very good supports.
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Philip Allwright
Mark Sturdy
Seven Days Ahead
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