$USD

    Posted by yankee19 on 3rd of Sep 2008 at 01:02 pm


    It would be real nice if this dollar rally would just poop out.

    Well there's major resistance for

    Posted by martin on 3rd of Sep 2008 at 05:51 pm

    Well there's major resistance for $USDcoming up at 80, at which it is likely to at least stall out and do some consolidating before continuing up if it is going to.  A lot of commentators have been saying that $USD has reversed into what will be a secular bull trend, saying that once it breaks a long term trend it tends to trend the other way for about eight years or so.  It did move up for many years, around seven I think, before beginning its long downtrend at the beginning of this decade.  It has also had long periods where it trends sideways in a wide trading range too though.  A lot of traders and advisors thought that it put in a major LT reversal in 1985 and would trade back over 100 within a couple of years.  It turned out just to be a countertrend rally though, breaking the really steep downtrend line and then putting in another less steep trendline.  Fan lines, a series of less steep trendlines (three being a common number for them), are often put in and broken before a true sustainable reversal is put in when a trading vehicle has been in a really steep long term downtrend. 

    Thanks Martin

    Posted by yankee19 on 3rd of Sep 2008 at 09:35 pm

    Do you have any long term charts of the dollar so I can get an understanding what you mean by fan lines ... etc

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