Short Term Trading forex trading links forex trading books market statistics trader values euro and us dollar Shocks Crashing Short term trading: --US dollar index December

Tuesday, 7 August 2012

Short term trading: --US dollar index December



The U.S dollar is overbought. Futures funds have massively bet in favour of the U.S. dollar, according to latest Commitment of Traders report (COT). Short positions, at the contrary, are at record low. The index is leaning against the higher channel line of the past twelve months. Historically, the last part of the year is not favourable to the U.S. dollar. Finally, there is a divergence between price and RSI indicator on the weekly chart. The index could decline to 81.00.

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