Tuesday, December 13, 2005

US Dollar

Here is an hourly chart of the cash US dollar index.

Yesterday I said that the market was heading down to 88.80 with and outside chance of going a bit lower to 87.80. But this morning I noticed a mistake in my calculation. The corrected targets at 88.10 and 86.90 and I now think the lower level is in fact more likely than the higher one.

In the meantime I see resistance today in the 90.80 to 91.00 zone and the next downside target is 88.80.

No comments: