The US Dollar Is Now Set To Plunge
October 14, 2013
With the US Dollar Index still trading very close to the psychologically key level of 80, today top Citi analyst Tom Fitzpatrick warned King World News that the dollar is now set to plunge. Below is the timely Fitzpatrick commentary, along with the chart which illustrates the dollar is set to take a major hit.
Here is what Fitzpatrick had to say, along with his key chart: “Near-term price action around resistance levels on the USD Index (80.50-80.75) suggests a turn back down is now likely. Overall a move towards support levels at 78.60-79.00 should be seen with the possibility of an extended move to 76.50 (see chart below).