Daily View - Dollar Index, 1 Nov 2013

Trend, Momentum, and S/R Levels

Trend: Down since Sep 2013.
Mode: Trending down.

Review of previous Analysis:

Trading recommendation – Parrtly Correct
S/R Levels – Correct
Direction View - Incorrect

Price crossed resistance 80.2 against our view.

Cycle Analysis: Daily major cycle is trending down but price may rise as it has crossed crucial resistance of 80.2. Major cycles have turned up, avoid selling.
• Sell Signal: -
• Buy Signal: -

Conventional Technical Analysis:

Bearish setups –
None

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

Price has all bullish signals, expect it near 81.

Key S/R Levels:
• Resistance Levels: 81
• Support Levels: 80.2

Risk: Price may remain volatile.

Recommendation: Avoid trading.