US DOLLAR INDEX FUTURES – Technical Forecast – 14th June 2010, 09.00hrs GMT (3rd posting)
Further to our previous postings regarding the US Dollar evolvement.
As you can observe from the above daily chart describing the path of the US Dollar Index Futures until last Friday night, our forecast for the evolvement of US Dollar Index since June 2nd, our 1st posting on this subject, was accurate.
The Index’s price extended its upward move to the 2,618 Fib level and returned to confirm the immediately lower Fib level of 2,320 at 87.32 points.
As we already forecasted, we expect the upward blue channel to guide the evolvement of the US Dollar Index. In case the Index breaks upward the actual resistance level (Fib level 2,618 as indicated in the above chart), the US Dollar will gain significant strength against most currency pairs.
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