Top in Dollar Index?

by Ashraf Laidi

Mar 12, 2009 13:21

Click To Enlarge

Emerging signs of a top in the dollar index as the currency falters against EUR, AUD, NOK, NZD and even JPY. GBP remains the exception, whose fundamentals in the banking sector remain most bleak. It may be argued that recovering stocks are weighing on USD, but in such conditions wed expect USDJPY to also rally. Chart below shows the index has faltered right at 89.60, which marks the 38% retracement of the decline from the 2002 high to the 2008 low as well as the TL resistance extending from the 120.50 high of Feb 2002. This is a medium term call, which suggests the 86 figure as the next target, supporting 1.2930 in EURUSD and 94 in USDJPY.

More Hot-Charts

• Gold & Nasdaq100

  Sep 28, 2026 10:32 | by Ashraf Laidi
  سأرسل رسالة صوتية و كتابية توضيحية لأعضاء مجموعة الواتساب الخاصة حول هذه المخططات - Will send detailed note on latest parameters to our WhatsApp Bdcst Group...
• 

  Gold & GoldBugs

  Sep 24, 2026 11:51 | by Ashraf Laidi
  If the inverse relation between gold and goldbugs index explained repeatedly in previous videos such as here  and here continues to work, then watching the 4230 level is as important as...

• Nasdaq Part 2

  Sep 24, 2026 9:44 | by Ashraf Laidi
  Now that Nasdaq has fallen following yesterday's post, will it extend declines to 30000. What do you think of this fractal.