Home » USD index » US Dollar Index 25 Nov 2009

US Dollar Index 25 Nov 2009

Dollar Index Chart 25 Nov 2009

Dollar Index Chart 25 Nov 2009

The poor old dollar continues to sag against all the other major currencies as evidenced once again on the daily dollar index chart, with yesterday’s down candle adding to the bearish picture once again and today’s price action driving the index as low as 74.3. The minor ‘rally’ towards the end of last week was quickly snuffed out by the 40 day moving average which once again provided the barrier to any attempt to rise, with the index falling back lower as a result, and indeed in yesterday’s trading, the 9 and 14 day moving averages played a similiar role with the index closing lower as a result. With no sign of a recovery on the technical picture, and with massive congestion now sitting at various levels above, the US dollar looks set to continue its bearish path lower, if and until the FED decide enough is enough and begin to talk the US dollar back up in the market – this could happen at any time so be careful, but for the time being the chart remains heavily bearish with all three moving averages pressing the index lower, so for trading currency options the message is clear – sell the dollar until further notice!

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