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USD Index at another important pivot

Posted on March 31, 2009 at 9:08 in Uncategorized by Pierre Charlebois

Here’s a view of the USD Index on a one hour chart.

The patterns and trend-lines suggest this yet another important juncture and pivot point.

Price action of rejection or continuation at this point should determine the larger trend for the next 24 hours or so.

2 Responses to “USD Index at another important pivot”

on 31 Mar 2009 at 10:30 am1chuck martin

is it to late to begin to trade the dollar long vs the euro short? I have seen projections of Euro dropping from current levels to about 1.18 by the 4th q. Is this a profit opportunity?
on 01 Apr 2009 at 9:15 am2Pierre Charlebois

Hi Chuck.
That trade is a very long term view. Holding a position for 6 months.
The only advice I can give here is for this type of trade you may want to talk to a broker. You need consider what draw down you are willing to suffer if the pair returns to old highs.

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