Need an argumentative essay on Dollar Index Headed for Rapid Collapse: Chart. Needs to be 2 pages. Please no plagiarism.This article explains the implications indicated by this chart.The dollar index

Need an argumentative essay on Dollar Index Headed for Rapid Collapse: Chart. Needs to be 2 pages. Please no plagiarism.

This article explains the implications indicated by this chart.

The dollar index chart is used to indicate the strength or weakness of the US dollar which can be said to be the basket of almost all the currencies including even the Euro, British pound and Swiss franc just to mention a few. The dollar index chart contains three significant features: the uptrend line, the support level and the historical support. The analysis of the three features mentioned is what has led to the conclusion that if the dollar continues in this trend which is leading downwards with low probability of changing the trend in the next several weeks, then the US dollar will be declared weak.

The uptrend line (from September 2011-September 2012) indicates a change direction of the dollar strength. This change in trend direction (where the dollar fell below the trend line) provided an early warning to the trader that things were headed in a wrong direction and action had to be taken soon and hence they had enough time to move to the side of the market that was correct and closed other side trades.

The second feature (support level) indicates both the support and resistance of the dollar. Based on probability in this case, the level (which is at 79) will not provide a strong support of QE3 hence the traders will use this opportunity to build other positions. Consolidation behavior that is temporary is bound to take place at this time due to this statistics. The historical support is near 74.5 which is on the upper edge. If it falls below 79, then it will mean that the dollar has weakened and hence affecting other currencies as well. This however will be determined within the next three to four weeks.

Based on the information provided by the dollar index chart and especially the three features discussed above, the probability that the dollar will once again move