USD Index moving strongly higher

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USD Index 1 March 2013

A pivotal week for the dollar index on the daily chart which finally broke through resistance in the 81.50 area to currently trade at 82.42 at the time of writing.

Yesterday’s trading session for the dollar ended with a wide spread up candle which held above this key level and with the breakout from the recent sideways price action which has extended since Q4 of 2012, the dollar now looks set to build on this platform of support and extend this bullish run further.

Immediately ahead there is interim price congestion between 82 and 82.90 which may result in a temporary halt to this bullish move higher.  However, any breach here may see the index continue to rise to the next logical area of 84.24 of July 2012.

By Anna Coulling

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About Anna 1054 Articles
Hi – my name is Anna Coulling and I am a full time currency, commodities and equities trader. I have been involved in both trading and investing for over fifteen years and have traded many different financial instruments, from options and futures to stocks and commodities. I write and publish articles ( mostly for free ) for UK and international publications on a wide variety of financial issues, and in particular I enjoy helping others learn how to invest and trade.

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