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Dollar Index Finishes Week Lower

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Nov 1, 2010.

  1. forextrends24

    forextrends24 New Member

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    Today’s sample of Forex Analysis from ForexHound.com

    The U.S. Dollar Index finished the week lower after failing to confirm last week’s potentially bullish closing price reversal bottom.

    Clearly, both the daily and weekly chart patterns indicate this market can accelerate to the upside if the daily swing top at 78.61 is taken out to the upside. This move is likely to trigger a short-term rally to a 50% retracement level at 79.58.

    The strength and direction of the Greenback will be determined next week by how much the Fed allocates to quantitative easing.

    Read full article at ForexHound.com as well more Forex Trading articles including Forex Technical Analysis and Forex Education

    Disclaimer: Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.
     
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