Thursday, July 5, 2012

U.S. Dollar

US Dollar Index

 There is a small cluster centered around next weekend -- July 14th. If prices are near the support at 81.50 a resumption of the bull could commence.

  • Lateral resistance from intersection A
  • Lateral support from intersection B
  • Square of price/time @ point C
  • Note that 50% of BC  was support in April and resistance in the later part of June. ( support becomes resistance)
  • 83-83.5 should form resistance to any rally, but breaking decisively through 83 would set up much higher prices.
  • Jan 13 + 180 = July 11
  • March 15 + 120 = July 13
  • June 1 + 45 = July 16
  • May 1 + 72 = July 12

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