The Dollar Index continues in a primary up-trend after twice successfully testing support at 79.50/80.00. Target for the advance is 85.00*.
* Target calculation: 80 + ( 80 – 75 ) = 85
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The Dollar Index continues in a primary up-trend after twice successfully testing support at 79.50/80.00. Target for the advance is 85.00*.
* Target calculation: 80 + ( 80 – 75 ) = 85
Comments are closed.
Hi Colin,
Re: US Dollar Index, 01-11-12 Trading Diary
If I examine $DXY from 2008 to present with the 63-Day Twiggs Momemtum Oscillator, I notice that we have major peaks at (1) 19.4% on November 2008 and (2) 12.5% on June 2010. Using these two peaks as a reference for a declining trendline, one could almost extrapolate to another major peak around January-February 2012. What do you think? Are there other factors that might cause $DXY to peak out and respect a major downtrend in momentum around this time … or am I just comparing apples with oranges?
Thanks!
I wouldn’t place much faith in $DXY peaking at the declining trendline on 63-day Twiggs Momentum. Resistance at 88/89 on the price chart is a more likely turning point. Regards, Colin