Sunday, November 8, 2009

Dollar trying to break−out. Will this be the week?


Dollar trying to break−out. Will this be the week?

by Pierre Charlebois

Trading Metro


Long term trends by their nature don't turn easily. The last two weeks we have seen counter trends and we have reversed to about half of the original gain by the USD. There are many arguments to be made for both a weak and/or a strong Dollar going forward.

What I do know is that this trend has lasted surprisingly long and should at least correct in a reasonable period of time.

USD Index- The bottom is not assured yet and the risk to both directions is about equal. What I would say is a new low will likely be reversed quite rapidly and any break above 77.00 should accelerate.

index


EUR/USD - Below 1.4626 pretty much defines the trend. New highs would likely reverse in short order.

eur


GBP/USD - A double top is a real possibility

GBP


USD/JPY - I have no directional bias

jpy


USD/CHF - A double bottom at 1.00 is not out of the question. On the upside look for a break above the wick at 1.0337

chf


AUD/USD - Another long term trend that just won't fall

AUDUSD


NZD/USD - This pair shows some evidence of having topped

NZD/USD


USD/CAD - Will the break-out get legs and continue?

CAD


EUR/JPY - Tough call but I still think a new top is possible

ej


Stumble
Delicious
Technorati
Twitter
Digg
Facebook
Reddit

Enter your email address:

Delivered by Dollars Trade

Followers

Recent Posts

 

Forex Special Copyright © 2010 Dollars Trade is Designed by Mian Asad Ali