CapMoore

Dollar Index at a Critical Level by the Yearly Pivot Point.

FX:USDOLLAR   Dow Jones FXCM Dollar Index
106 0 0
Index reached the D level prematurely (faster CD leg)
which, as often is the case, created an extended D point,
here the 1,272 extension. Index then turned nicely and
reached the mini-target of the whole ABCD127 pattern
and also the Technical ABCD mini-target (the 61,8 retracement
of the CD leg). This level (around 10360) has given support
three times and a LT             Trend Line is also supporting index.
Index is now standing right at the Yearly Pivot Point , and has
failed to breach it for several days. Until it has been breached
the Index stands at a critical point. If it is taken out bullish
prospects increase. Still, the two retests of the 10 360 level
makes a heavy impression. The Yearly Pivot Point will be
the line in the sand for further development with a break out
higher or another retest of the mini-target level.
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