US Dollar Forecaste Update 2-3-12

US Dollar finding support
at forecasted price

I commence with my gratitude to The All-Knower

I said on 01-26-12 that, "Now it is forming "base on base pattern" by forming, another handle of a rather smaller pattern of the cup base. .....Dollar shall find the support at the range of $79.10-$79.20. To keep this base pattern strong, the lowest potential support for the said base pattern is $78.62."

US Dollar Forecast 2-3-12

US Dollar has been finding support for last one week at the forecasted level. As a matter of fact, low of the last five days has been at $78.75, just above my support level of $78.62 This area is a support which is to offer more support for new rally. (Failure to start a new rally shall take the dollar down to $76.70-$76.98)

US Dollar Forecast

Base on Base,
Cup with handle

I commence with my gratiutde to The All-Knower

US Dollar Index (DXY) has found some resistance as soon it cleared the larger pattern of H&S pattern. Now it is forming "base on base pattern" by forming, another handle of a rather smaller pattern of the cup base.

Dollar shall find the support at the range of $79.10-$79.20. To keep this base pattern strong, the lowest potential support for the said base pattern is $78.62.