Dollar index moving up - Equities moving down - Day trading course
The dollar index is moving towards a double top at 80.28 with another area of resistance at an extreme high 80.82 . This is the double top on a longer term chart. We are using the 1440 min chart for this top to see the after hours movement in the dollar index market. 79.50 was the point of control on the day and buyers are buying. We have price agreement with a low volume. There is a possibility this weak buyer foundation in price structure could lead to the future turn around or sell off in the dollar index. The dollar index soaring to this intermediate double top at 80.28 will put down ward pressure on stocks. We will probably see a push back up on the indexes as the morning progresses to fill the open gap over the weekend. Dollar index is particularly sensitive to the European negotiations.
December is particularly noted for declining volume and the Dollar index will reflect this. Watch out for volatile moves as the Euro has a lot of news behind it that will push these markets around.Day trading course will be in your area soon, join us for Day trading education.
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