The weekends are a good time for me to go through alot of my charts. I think I have found something on the current us dollar index chart on the weekly time!
If you have a look at the weekly chart for the current us dollar index, it seems that there is a head and shoulders pattern forming, and the right shoulder has been forming over the last several weeks.
There are no guarantees but if this is the case, and infact a right shoulder is forming, then this would mean we will see more downside in the current us dollar index very soon.
The first barrier to get through would be the neckline area on the head and shoulders which would roughly be the $78 - $79 dollar level.
|current us dollar index|
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