Home » USD index » USD Index – USD Chart For 13th August 2009

USD Index – USD Chart For 13th August 2009

USD Index - USD Chart For Forex Dollar 13th August 2009

USD Index - USD Chart For Forex Dollar 13th August 2009

The USD Index responded accordingly to yesterday’s FED dovish statement in which the Committee decided to keep interest rates on hold (no great surprise), keep their options open with regard to further bond buying (ie Quantitative Easing) and only deviated by 10 words from last month’s statement.  Those 10 words included the view that the current recession/depression was “levelling out”.  On the USD chart last night’s news triggered a move lower as investors rushed back into riskier assets, such as equities and commodities, ending the currency trading session with a narrow spread down bar but with a deep upper shadow.  Worryingly for USD bulls the high of the forex trading session found resistance at the 40 day moving average on the USD chart, which is now weighing heavily once again.  In addition we now have a bearish 3 candle pattern of an up bar, spinning top and down bar, all suggesting that the short term rally for the USD is now over, and should we see prices break and hold below the 9 and 14 day moving averages then this view will be confirmed on the usd index chart, that the USD trend has reversed.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.