Tuesday, January 19, 2010

Dollar Trade Update

Dollar index futures /DX keeps moving up off TDSetup buy as of Jan 14th, position opened on close of bar 9 already generated almost 80% profit – what now?
Now there is immediate TDST Resistance at 78.59, since /dx is on the bar 4 of Sell Setup today I’d presume it will reach 78.59 by the end of this week, but (IF it will complete sell setup) it will not sell off, but rather consolidate (yellow rectangle) and then attempt to break previously tested $78.76 TDST res.
RSI on daily making second attempt to enter “Bull Zone” above 60 and if so happen – the long awaited “buck is not dead” rally might just be upon up.

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