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USD forecast for coming week ended 5th October, 2012.

Last week I was suspecting that Usd may not drop from this level. Though it faced couple of odd days but I think that it may go more in the upside, provided it does not drop in early days of the coming week. As such 79.5 is acting as a strong support base for Usd. In fact it looks to me that Usd is creating a very short-term pattern for more up moves. This pattern is not clear yet, as such it needs couple of more days but if it triggered fully then Usd may test around 81 levels.
On the other hand if Usd again drops from this 79.5 level then it may again re-test around 78.5 ranges. But breaking 78.5 will be hard for it. From there it may give stronger reversal and that is mostly expected in later periods of the coming week. If Usd bounces from there then we may see that Usd is testing near around 81 levels but that may not be in coming week.


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