Trading University Daily

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. [...]

Last week’s U.S. Dollar rally was strong enough to lift the index above its intermediate-term trend line, and leave it in a position to test the October high at 77.22 — see chart below. Given the number of headlines highlighting the U.S. Dollar’s demise in newspapers and websites world-wide in October, and most analysts poor track record at predicting [...]