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13 Apr 2015
USD Index: possible double bottom on charts – Kshitij Consultancy
FXStreet (Barcelona) - Analysts at Kshitij Consultancy, explain that the Dollar Index sees a probable double bottom on the charts, further viewing that the Index might test 100.39.
Key Quotes
“Dollar Index (99.458) saw a sharp upward rally last week but is nearing 100.39, the March ’15 high. We need to see if it is able to break this level and move higher or fall from there to see lower levels of 98.77-98.28 again.”
“Note that a break on the upside would be very bullish for the near term.”
“Possible double bottom formation is seen on the charts now.”
Key Quotes
“Dollar Index (99.458) saw a sharp upward rally last week but is nearing 100.39, the March ’15 high. We need to see if it is able to break this level and move higher or fall from there to see lower levels of 98.77-98.28 again.”
“Note that a break on the upside would be very bullish for the near term.”
“Possible double bottom formation is seen on the charts now.”