US$ index to find support at 92 or fall through?

[jasonjm]

92 support would make a double bottom, and then a rally for sure....

Or does it fall through like a cement block?

[currencia]

USDX is a very good chart to follow. Whichever it does, trade it that way!.

[Paul Koszarny]

To Jasonjm and Currencia,

USDindex is intriguing in its components targets. For example USD/CHF has not stopped declines at 1.3279, a model level for the current slide. EUR/USD has already overshot 1.1555, a similar model target. This is a model week for USD/CHF and EUR/USD with volatility much higher than ever. Today I recommended
Sell USD/CHF at 1.3498, stop loss 1.3533, target 1.3279 which closed with +219pips profit. Then reversed at 1.3279 for 50 pips which has not materialized yet and the prospects look gloomy. So the support mentioned seems fragile.

Paul Koszarny

[jasonjm]

well, here we are in the 92's, boy that was quick!!

(and yes Paul, you seem as surprised as I am, I was waiting for some sort of rally/bounce in the USD after the collapse in the last few days, however the USD did not even pause to breathe on the way down!)

and the moment of truth is at hand, if this thing pops into the 91 range, I will double all positions I have against the USD