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US Dollar Index Classical Technical Report 08.22

US Dollar Index Classical Technical Report 08.22

2011-08-22 05:27:00
Joel Kruger, Technical Strategist
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US_Dollar_Index_Classical_body_dxy.png, US Dollar Index Classical Technical Report 08.22

US Dollar Index: The market remains locked in a multi-day consolidation since basing out by yearly lows back in April. Ultimately however, until the consolidation is broken, buying on overdone interday dips towards the range lows by 9350 and selling on exhausted rallies towards the range top by 9750 is the preferred strategy.

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com

If you wish to receive Joel's reports in a more timely fashion, e-mail jskruger@dailyfx.com and you will be added to the "distribution" list.

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