Replies to post #23687 on Fiends In Stocks

[DeepBlue1]

Another highlight from the previous article...

The last one is more of a technical factor than anything else - the 80 level on the USDX, or US Dollar Index, should be a pretty strong resistance level, having been a support for 22-23 years and then gotten decisively broken on the downside. There are those who say that the recent rapid rise and breakthrough of multiple resistance levels of 72, 74, 76 and 78 was due to manipulation and others who say otherwise.

If the 80 resistance level holds, we could expect a reversal and for the US dollar to do what it does best - which is to say, continue falling.

And if we get a good confirmation of 80 as a resistance level, the best it could do is probably to consolidate between 76 and 80.