Home » Currency Option Trading » US Dollar Index – Daily Candle Chart 30th March 2009

US Dollar Index – Daily Candle Chart 30th March 2009

US Dollar Index - 30th March Daily Candle Chart

US Dollar Index - 30th March Daily Candle Chart

The US dollar index closed up on Friday with a wide spread up bar which moved over 100 points on the day, with the close of the day above both the 9 day and 14 day moving averages, reinforcing the view that the up trend reversal is now firmly established, following Monday’s signal in the daily candle chart. This morning’s price action has confirmed this trend, and it is interesting to note that dollar index opened gapped up this morning, with a Japanese rising window, an excellent signal that the bullish trend is now firmly established. This signal is rarely seen in the currency charts as the opening and closing prices are usually the same, but in other markets such as the dollar index, this is an excellent trading signal and equivalent to a “gapped up” or “gapped down” western signal. The key point is that there is clear space between the close on Friday and the open of this morning which is the significant point.  The key resistance at 86.55 is now coming into play, and for the move to continue we will need to see this region breached in the next few days.

You can keep up to date with the latest live currency charts and latest currency news here, and if you are looking for a good ECN broker, then simply follow the appropriate link.