MoneyTec Traders Community Forum - View Single Post - anyone else looking for a double bottom in USD index at 80?

20pipsaday · 01-03-2005, 01:11

seems like we may test the bottom here (although who knows, we are coming close, but I guess no guarantee we retest 80 anyways)

I just get the feeling the powers that be are not going to let the USD index collapse through 80 (if it does, it kinda means a freefall of sorts, at least another 10% down this year)

Maybe eventually the index at 80 will fail, but cutting right through it seems not likely to me at least.....

maybe a double bottom at 80, a rally back to 95, then back down to 80 (over say the next 2 years)..... that would make a massive head and shoulders on the weekly, maybe then 80 will be ready to be broken?

any thoughts?

01-03-2005, 01:11	#1
20pipsaday level 3 Join Date: Mar 2004 Posts: 133 Downloads: 0 Uploads: 0 Rep Power: 0	anyone else looking for a double bottom in USD index at 80? seems like we may test the bottom here (although who knows, we are coming close, but I guess no guarantee we retest 80 anyways) I just get the feeling the powers that be are not going to let the USD index collapse through 80 (if it does, it kinda means a freefall of sorts, at least another 10% down this year) Maybe eventually the index at 80 will fail, but cutting right through it seems not likely to me at least..... maybe a double bottom at 80, a rally back to 95, then back down to 80 (over say the next 2 years)..... that would make a massive head and shoulders on the weekly, maybe then 80 will be ready to be broken? any thoughts?