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Dollar Index Intra-day: Prices Looking For More Weakness

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July 25 2011

Quite negative sentiment across the board as new trading week starts. We noticed that as soon we saw strong gains on gold and Swiss franc, which means that traders are looking for safety. Stocks as we can see are also lower across the board, currently in red in European markets after Nikkei and HSI lost more than 0.8, and China almost 3%.

Now you are probably wondering what our thoughts for the US dollar are!? Well, on the dollar index intra-chart we can see that bounce from the lows is quite weak, shows evidences of a corrective move, which means that we still favor a continuation of a bear market that was seen in the past week. But an overlap with 74.53 area will make things more complicated.

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