Despite a somewhat choppy day of trading yesterday the dollar index scored a second consecutive day profits for the first time in more than a month. This occurs after the index it not, shut down the 76, 50 60 support levels that we may be languages about last week, indicating, that the dollar carving some type of short-term base finally. During the dollar still in the clear is easily wiped out these last days, we consider the euro as a period of consolidation and the fact that ahead was its bullish trend of above the previous day closing lows, for 27 consecutive sessions as a bullish signal for the dollar with deep setbacks for the euro broken has. 
However, a word of caution is back in the dollar falling, we saw something similar Spiel-Out psychological 80.00 early in August, when the index bounced level and managed to consolidate this threshold before the door was opened further to delete. Therefore we cannot exclude that the index again will consolidate on a support level before the test lower, 2009 lows above 74,00 will be the target of each step certainly lower. As we continue the scenario that the dollar will make significant gains on forthcoming meetings how much return stretched technical readings on line, it is still too early to call a bottom. To ensure profits is a catalyst for another $ official comments by US officials. We mentioned how it last week, a growing number of fed members concerns expressed more QE amidst the current economic situation is not justified. We suspect that the markets so far gone in the expected $500 billion more easing price that now a disappointment, as the Fed are primed a far smaller extension adopted you for your current actions. We remind readers that more quantitative easing, the flood would the driving force behind the last drop of the dollar that was the promise of dollar devaluation of the currency market, the market in this action pricing has been. Any disappointment the Fed should have only a result; significant USD gains, therefore we recommend that players too crowded for notes which seen from officials with regard to the size of the package QE. Written by Jonathan Granby, research will be added team if you want to keep Joel reports in a more appropriate Mode-e-Mail-jskruger@fxcm.com and DailyFX to the distribution list. When you visit this or any other subject feel to free our forum page want to discuss.DailyFX provides Forex News on economic reports and political events that influence the currency market.
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