Here's a daily chart of the US Dollar, the dollar spiked up
today and that is likely causing some market weakness here.
The US Dollar appears to be trying to find support at the 50 day
MA, which is logical, since it was such strong resistance last
year. Also the regular 14/3 stochastics is now
oversold. Also notice that the dollar is forming into a small
triangle pattern (see the blue lines). The MACD at the top of
the graph is also above zero which is positive and could recycle
back up.
The point is, this is support for the Dollar, and this is the
place where it should start to go back up again if higher prices
are in store, I'll keep an eye on this.
EWI has this: (I'm paraphrasing) if we can clear that
80.86; three waves down will be shown with clarity and we did
achieve that 79.63 Wave 4 low. Their targets for Wave 5 are:
83.72-84.12 IF we clear the 80.86.
US Dollar
Posted by matt on 18th of Mar 2010 at 11:57 am
Here's a daily chart of the US Dollar, the dollar spiked up today and that is likely causing some market weakness here.
The US Dollar appears to be trying to find support at the 50 day MA, which is logical, since it was such strong resistance last year. Also the regular 14/3 stochastics is now oversold. Also notice that the dollar is forming into a small triangle pattern (see the blue lines). The MACD at the top of the graph is also above zero which is positive and could recycle back up.
The point is, this is support for the Dollar, and this is the place where it should start to go back up again if higher prices are in store, I'll keep an eye on this.
EWI has this: (I'm paraphrasing)
Posted by Peridot on 18th of Mar 2010 at 12:26 pm
EWI has this: (I'm paraphrasing) if we can clear that 80.86; three waves down will be shown with clarity and we did achieve that 79.63 Wave 4 low. Their targets for Wave 5 are: 83.72-84.12 IF we clear the 80.86.
uup
Posted by rkelman on 18th of Mar 2010 at 12:17 pm
matt will youlet us know where if it breaks out where that would equate to the uup break out!
thanks