Usd Index- New leg up?Usd Index found a clear bottom on 92 zone and the first leg up followed that drove the index to 93.50-94.00 resistance zone.
Now the index corrected some of this first up-leg and, in my opinion, more gains will follow fo USD.
I remain bullish as long as the price stays above 92.50 zone and I will look for short opportunities in GbpUsd, AudUsd, NzdUsd and EurUsd
Usdindexanalysis
Usd index- where to- monthly outlookFrom the 2008 bottom, Usd Index has been trading mostly up and now is trading just under strong resistance that lies at 103-104 zone.
Considering the global concerns and Usd safe haven status I expect this resistance to give up and to have a dollar strength dominated year.
In the long run (one-one and a half year) a 20% increase in Usd value is not out of the question and we can see the index touching its all-time high at 120.
USD on the runThere have been 2 great weeks for the Us Dollar, with the index rising about 7 percent.
After the index touched the 95 zone 2 weeks ago, the index reversed aggressively and put on a big bullish engulfing from this support.
This week the index passed and closed over 100 psychological resistance and is trading at 101.95.
I expect this bull run to continue in the weeks to come and I will look to buy Usd weakness in all its pairs.