Friday, December 11, 2009

Dollar Index May Advance to 3-Month High: Technical Analysis

(Bloomberg) -- The Dollar Index may extend gains to a three-month high of 77.69 after rising above resistance at the lower end of an ichimoku cloud, said Barclays Capital, citing trading patterns.The index, which is used to track the dollar against the currencies of six major U.S. trading partners, posted yesterday its first close since April above 76.05, the base of the cloud according to Bloomberg data. The cloud is the area between the first and second leading span lines on the chart and is used to show an area where buy orders may be clustered.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ayAZ0_0_iRPk

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