Dollar could gain more this week − Critical juncture on Index
Pierre Charlebois from Trading Metro at 10/12/09
Last week the dollar gained as the week ended with a significant move back to the resisting trend-line on the USD Index. I would say that price action above 77.45 is what could signal a change in trend. So expect further dollar strength in the next day or two and longer term if the price breaks out above 77.45.
USD Index - Bottoming
EUR/USD - Follow through to the downside is expected
GBP/USD - Some follow through tot the downside is expected
USD/JPY - Bullish engulfing candle would suggest follow through to the upside of this chart
USD/CHF - Neutral to bullish
AUD/USD - Highly overbought
NZD/USD - Bearish follow through expected
USD/CAD - Bottoming/bottomed?
EUR/JPY - Tough call as EURO should weaken some and JPY is a safety currency. However candle pattern suggests upside on this chart. - Neutral to short term bullish