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FXAnalytics: Dollar Index Outlook

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FXAnalytics

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8 October 2005
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The dollar has seen little action through the US session and is finding a comfortable range between the upper Bollinger band (resistance) and the 50EMA (support).

Current price action continues to favor cyclical models and trend models remain at a higher risk for failure. Selling tops and buying bottoms is favored at this time. Current price levels are nearly neutral and additional gain in the index or time spent consolidating at current levels will need to be seen to mark a top in the cycle.

Risk Metrics Models: RM levels remain soft after relatively flat trading. I would expect the early Tuesday sessions to remain quiet with little chance of a strong break-out.

Technical Overlay:
4hr: Neutral, 2hr: Bullish, 1hr: Neutral
 

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RLN said:
Good info. Can you fit anymore lines on that chart :confused:
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Ha Ha! Good point but as long as it makes sense to the person using it, the small chart makes it tougher. I for one get confused when there are too many lines. As long as the method works I suppose it is all good.
 
RichKid said:
Ha Ha! Good point but as long as it makes sense to the person using it, the small chart makes it tougher. I for one get confused when there are too many lines. As long as the method works I suppose it is all good.
Click to expand...

Well the short answer is, yes, unfortunately I can... sometimes I can't even read them. LOL

As you read the analysis the levels and what they represent will become clearer; don't hesitate to ask questions about them, what means what etc.
 
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