US Dollar Index Forecast May 28, 2013, Technical Analysis
On the Memorial Day holiday in the United States, there
obviously would have been too much in the way of volume in the futures
markets. All of the trading would’ve been done electronically, and by
retail traders more often than not. However, it does look like the 83.50
level continues to hold a support for the US Dollar Index, and this of
course jive very well with our predictions on this particular contract.
With that being said, we are perfectly comfortable going long at this
point and aiming for at least 84.50 or so. If we can get above that
level, we will eventually find the 88 handle based upon the longer-term
charts.
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