Trend Shift for U.S. Dollar Index

The U.S. Dollar Index reversed its daily trend to higher this pst week after finding support just above the 2010 low at approx. 75.23 last Tuesday. The big push up for the Greenback happened just past noon EDT last Friday as Philly Fed President Plosser opened the door for the Federal Reserve Board’s post-quantative easing policies.  USDJPY and USDCHF also ended last week with their daily and 4-hour trends pointed higher, while GBPUSD closed below a 3-month bull trendline to shift its weekly trend lower.

Jay Norris is host of Live Market Exercise at Clovernest.com and the author of Mastering the Currency Market, McGraw-Hill, 2009. 

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