Dollar Index goes higher approaching major resistance

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Dollar Index goes higher and at 83.25 a major level to either have a short term sell, or should you just get out of the way and watch to see if it can break multi-year resistance.

Image courtesy Cegli: http://www.photoxpress.com/search-stock-photos-photographer/cegli/338965 I think it can break above resistance, especially as we now have a buy the U.S.dollar "under any scenario" approach.

Risk off, risk on, stronger growth = stronger housing = less Fed.

Or

May/June seasonal market dislocation and disruption = risk off = Buy the U.S.dollar.

Or

More European Union elections = buy the U.S.dollar

Or

More Bank Of Japan intervention = Buy the U.S.dollar



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , International , Stocks

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