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31.12.2013 12:28 PM
#USDX Analysis for December 31, 2013

The Dollar index is still trading within price limits that do not show a clear trend path. So we neither prefer bullish or bearish setups. We are not bullish or bearish. We prefer to remain neutral as the price action in the Dollar index due to holiday season remains low and volatility is expected to remain low.

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Price action remains overlapping and there is no clear sign of a direction in this market. Although the longer term trend favors bearish positions as prices continue to make lower lows and lower highs, we prefer to remain neutral. Short term support is found at 79.70 and short term resistance is found at 80.40. We prefer to think of opening a new position only if prices break an important resistance or support.

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The daily chart remains complicated with no real directional signal. We remain neutral.

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