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Dollar Index "Intra-day Reversal"

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Sep 10 2010 04:10 EDT

Dollar index moved above the 82.90 overnight, but reversed very powerfully from there, once the European session got underway. It seems that bulls are not ready to take control yet; in fact we may see more down-side in the very near-term, either the bounce from the lows is corrective, (a)-(b)-(c) move, or if a complex wave (b) flat pattern is still unfolding (ALT on the chart). Overall, price action does not look clear at the moment, so any taken positions should be managed very carefully until we get more price data!

Dollar Index 1h chart:





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