The US Dollar Index has broken out of a bull pennant on the back of the Euro's weakness overnight, which stemmed from Moody's downgrade warning of East European banks. This has enabled the Greenback to approach the key 88 handle, near the key fibonacci retracment (78.6% of 92.58-70.49). While, daily RSI indicate a possible corrective relapse, only a convincing loss of the 20-day MA will shift focus back to the downside.
[STRATEGY] REMAIN LONG (SHORT EUR/USD)
