Sunday, August 02, 2009

DX Alert!

DX Daily Chart

Dollar Index is on the verge of another break down. Will it turn around and make a double bottom formation? Or will it break down towards 72s? I'm sure that the Russians and Chinese do not want to see their investment losses value but then again, if the world's smart investor and hedge funds try to get ahead of the Russians and Chinese, USD will be heading into a ugly decline.

Keep an eye of DX for the next possible crisis in forex.

No comments: