Daily View - Dollar Index, 4 Nov 2013

Trend, Momentum, and S/R Levels

Review of previous Analysis:

Trading recommendation – Not given
S/R Levels – Correct
Direction View - Correct

Price crossed resistance 80.2 against our view.

System Analysis:

	Analysis
Minor Cycles	Near Top, may expect minor correction
Intermediate Cycles	Turned Up, but end of downtrending not confirmed
Major Cycles	Approaching Bottom

Conventional Technical Analysis:

Bearish setups –
1. Momentum indicating overbought price

Bullish setups –
1. Price has crossed above 30 DMA
2. Price has crossed above down channel
3. Price has crossed above speed resistance line

Price has all bullish signals except momentum which may cause a correction.

Key S/R Levels:
• Resistance Levels: 80.9 - 81.25
• Support Levels: 80.8 - 80.55 - 80.3

Risk: Buyers may not see a dip.

Recommendation: Wait for a correction to buy. Sell if price is unable to go above 80.9 and crosses below 80.8, for target 80.58 SL 80.91.