The US Dollar has bounced today, however for now all it has done
is stop a the broken trendline that I had drawn over the weekend as
a triangle. We'll see what it does from here.
Do you have any theory for that indifference to the $USD index,
which began in early December? My guess is that the American Fed
(ie., domestic banks) is supporting the market here, and they don't
care about the euro and other currencies. Or, it is the Chinese and
Japanese Central Banks, who don't want to collapse their own
markets, so they will support the US markets for as long as they
can. Their pain threshold should come at 81.5, based on the most
recent dollar action (quick drop from there). FWIW.
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US Dollar 240 min
Posted by matt on 4th of Mar 2010 at 11:13 am
The US Dollar has bounced today, however for now all it has done is stop a the broken trendline that I had drawn over the weekend as a triangle. We'll see what it does from here.
The US Dollar has rallied
Posted by matt on 4th of Mar 2010 at 12:17 pm
The US Dollar has rallied back inside the triangle for now and stochastics was quite oversold, so we'll what it does from here.
Regardless, I was cautious on gold and gold stocks last night, and it seems like my caution was warrented
The b ullish railroad on the
Posted by ditch on 4th of Mar 2010 at 02:17 pm
The b ullish railroad on the dollaris even more so now, the target has moved up to $81.25.
dollar
Posted by perthx on 4th of Mar 2010 at 12:01 pm
dollar had cyclical bottom yesterday
Should be up until end of March/early April now. Market wont pay much attention till we see 81.5 (new highs) probably but gold is already feeling it.
Do you have any theory
Posted by junkie on 4th of Mar 2010 at 12:14 pm
Do you have any theory for that indifference to the $USD index, which began in early December? My guess is that the American Fed (ie., domestic banks) is supporting the market here, and they don't care about the euro and other currencies. Or, it is the Chinese and Japanese Central Banks, who don't want to collapse their own markets, so they will support the US markets for as long as they can. Their pain threshold should come at 81.5, based on the most recent dollar action (quick drop from there). FWIW.