Quick Magic 8 Ball Update on U.S. Dollar Index
September 26th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument.
The USDX has breached 78.33 and made a feeble attempt at bouncing above that critical point. It has now slipped back under 78.33 again. I have no idea whether it’s going to bounce or collapse, but I have seen this happen many times before: At major support breakdowns, the thing will actually retrace back up before it falls off the cliff.
Not long to wait now, one way or the other.
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