The Dollar has moved to it low level of recent support, sitting
on the lower end of a Value Area. Anticipate a run from 77.700 back
up to 78.900, the high end of the value area. This could happen
over the next week. If it continues to punch through the low
however, then we'll drop lower faster.
It will be interesting to see if the commercials add to their
net long position on the Dollar, the commercials tend to 'scale in'
to a position vs buying or shorting all at once, but yes it's
weak for sure.
Also the ratio trendline has been a really great guide, the
ratio was not able to break over the trendline on the bounce last
week, which would have signaled a trend reversal. It's
something to watch going forward as the trendline-ratio-breaks have
been good at picking inflection points
Dollar dropped
Posted by klatuu on 18th of Feb 2011 at 12:58 pm
The Dollar has moved to it low level of recent support, sitting on the lower end of a Value Area. Anticipate a run from 77.700 back up to 78.900, the high end of the value area. This could happen over the next week. If it continues to punch through the low however, then we'll drop lower faster.
Klatuu
It will be interesting to
Posted by matt on 18th of Feb 2011 at 01:19 pm
It will be interesting to see if the commercials add to their net long position on the Dollar, the commercials tend to 'scale in' to a position vs buying or shorting all at once, but yes it's weak for sure.
Also the ratio trendline has been a really great guide, the ratio was not able to break over the trendline on the bounce last week, which would have signaled a trend reversal. It's something to watch going forward as the trendline-ratio-breaks have been good at picking inflection points
I have them at 3662
Posted by kelt on 19th of Feb 2011 at 04:05 am
I have them at 3662 net long, so if we are looking at the same thing they have covered quite a few.