Sunday, December 14, 2014

US Dollar Index closed at support level

US Dollar Index created a new high and retraced to close at support level (Previous resistance level)

USD Impact currencies/Gold/Crude(wow)
Due to crude price continue to tumble down by another 12% this week, CAD and MYR (Malaysian Ringgit) was further weaken.

Cheap crude will benefits those countries that import oil as well as benefits consumers (partially maybe offset by stronger USD).  Most traders choose to focus on the negative impact of weak crude.

Weekly chart with 50 SMA

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