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US Dollar Index Classical Technical Report 03.12

US Dollar Index Classical Technical Report 03.12

2012-03-12 07:08:00
Joel Kruger, Technical Strategist
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Daily_Classical_DXY_body_dxy.png, US Dollar Index Classical Technical Report 03.12

US DOLLAR INDEX: The market remains locked in a multi-day consolidation and should continue to chop between the 9,600-10,100 area. Overall, we do retain a bullish outlook given the broader recovery structure out from a major base in 2011 and therefore recommend looking to buy on dips. The recent break back above 9,900 should now confirm and accelerate gains while ultimately only back under 9,740 delays.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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