Daily View - Dollar Index, 6 Nov 2013

Trend, Momentum, and S/R Levels

Review of previous Analysis:

Trading recommendation – none
S/R Levels – Correct
Direction View - Not given

Price reached 80.895 (our resistance level was 80.9) and made a low of 80.575 (near our support level of 80.55).

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
4. Price has crossed above 38.2% retracement level of 80.5

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

Key S/R Levels:
• Resistance Levels: 80.9 - 81.25
• Support Levels: 80.75 - 80.6 - 80.44 - 80

Risk: Buyers may not see a dip.

Recommendation: 80.75 and 80.6 are crucial supports. Wait for a correction to buy near 80.