Dollar Following the Expected Pattern Indicating Upturn

The U.S. dollar index has turned at a 61.8% retracement of the September 21-28 rally. This is exactly what is expected if the dollar is indeed starting a new long term uptrend.

US Dollar Index – 90 Minute Chart (Click to enlarge)

Disclosure: Long UUP

Comments

[Asbytec:]

Good news.

Oct 01 09:52 AM

[EUARTE:]

Then why is it going down vs. the Brasilian Real?

Oct 01 10:22 AM

[Shocksink:]

All commodity based currencies will fair well against the USD.

Oct 01 10:49 AM