ForexPros Daily Analysis April 27, 2011


Dollar Index fell into a new low as expected, after the market made only small, three wave recovery up to a trend line region, which reacted as a very good resistance. An updated count now suggests that a decline from 74.53 is a final leg of an impulsive structure from 76.08, so we really should not be surprised if dollar finds some buyers in sessions and days ahead.

---

Forex Trading analysis written by Gregor Horvat for Forexpros.

---

New on Forexpros, the Forex Volatility Calculator!

---

Disclaimer:
Trading Futures and Options on Futures and Cash Forex
transactions involves substantial risk of loss and may not be suitable for
all investors. You should carefully consider whether trading is suitable for
you in light of your circumstances, knowledge, and financial resources. You
may lose all or more of your initial investment. Opinions, market data, and
recommendations are subject to change at any time.