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TFC Commodity Trading Forum

U.S.$ Index *PIC*

DX has been pulling back since mid November. This is very typical for the seasonal trend for DX. The strongest period of the year seasonally is January into February. Presently oscillators are all below their center lines and shorter term moving averages are all falling and below their higher period moving averages. Key to hold as support is the 78.50 level which is the Sept and early May lows. More recent lows were the October and mid December double bottom at 79. Watch the 5 month downtrendline which is also price resistance at 83.43 for a breakout if typical seasonal trends continue higher in January into February. Bottom line: A breakout over the downtrendline or a breakdown below 78.50 will determine direction. And DX does have a strong affect on most markets.