USDX 10.17-Follow-up Market Analysis
| 18 October 2011
Supporting Video http://youtu.be/RHCWksn_wYo
The support levels of 76.05 is critical however, the renewed recovery from the low of 76.30/45 shows the hesitation of sellers to play safe as the current price is at the 77.04 daily opening correction as of today the 18th of Oct. heading to the G20 meeting for directions. Pls. refer to the Daily USDX Candlestick chart formation.
The inverse relation of the Euro vs. the US Dollar daily chart formation would simply dictate; if and whenever the technical price configuration is in line with each other, then expect the variable prices to move together. A value added trading tip to note and consider is that... if you know the percentage distribution of the USDX with the EURO, then for every index basis point thereafter will be the equivalent price swing of the EURUSD. Others may disagree but this has been proven well in our overall price swing calculation especially during increase volatility. Due diligence is important!
