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Thursday, April 5, 2012

USDollar Break Above 10134 Would Signal Epic Shift


04 April 2012 19:49 GMT  Daily Bars
eliottWaves_us_dollar_index_body_usdollar.png, USDollar Break Above 10134 Would Signal Epic Shift

The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) advance stalled at interim resistance from the 3/22 high (10032). Breaks above 10097 and 10134 are expected in the coming weeks. Reasons to turn bullish ahead of the break include alignment of moving averages (shorter above longer) and daily RSI action, which continues to bounce from near 50 (a bullish characteristic). 9995 is support.
Bottom Line (next 5 days) – higher

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