RISK DISCLOSURE: PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THE RISK OF LOSS IN TRADING FUTURES AND OPTIONS IS SUBSTANTIAL AND SUCH INVESTING IS NOT SUITABLE FOR ALL INVESTORS. AN INVESTOR COULD LOSE MORE THAN THE INITIAL INVESTMENT.The daily chart (and disclosure) above is from my good friend Stewart Solaka and I've added trend lines to the longer term monthly below.
I think 80 remains the key level for the dollar index. Below 80 there isn't any support aside from the recent all time low at 70 and the eight year downtrend resumes. If 80 can hold then I'd expect the series of lower highs and lower lows to be broken. As Stewart points out with the shorter term daily chart (top), the US Dollar has reversed. A test of 80 may be in the cards soon.
No comments:
Post a Comment