Monday, May 13, 2013

Dollar Index Review & Outlook

$USDX 4 hour chart - The dollar index finally touched the correction target from previous post last week and is now back above 83.00. Support is now at 81.72 (last week low).

$USDX daily chart - Target projections are based on several multiplier of correction range, added to last week low. AB=CD pattern projection (2x correction range) is my final target. Check points are 1x, 1.382x, and 1.618x correction range at 83.49, 84.32, and 84.82 respectively.

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