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TFC Commodity Trading Forum

U.S.$ Index/At Critical Pt/ Major Test *PIC*

DX has been trading in a channel since mid Nov between 78.60 support and 81.50 resistance and a ton of resistance above that from 83 to 84. Right now price is testing those lows of 78.60 and the technicals are at a point where this is the line in the sand for DX. Either this is a consolidation in a new bull run as most indicators have suggested or this is the end of the line for DX. A break that holds below 78.60 would suggest the run up was over and the bear is back. The Dec lows at 79 broke down but were not major support.

Bottom line: Watch this 78.60 price pt for DX for direction. DX has a dramatic effect on most everything commodity based, currency based and stock market based. Time to pay close attention as it will have consequences either way.....and strong ones......