16 May 2011

USDX : Being Stubborn ?

  • Quite lost here. 
  • [Trading at 75.29 now].
  • Preliminary thoughts on USDX, which basically represents the entire risk complex. Net net - still a sell, I think.
  • Monthly : After the sharp squeeze, hard to see this rallying a lot further from here without having to overcome a lot of strong overhead resistance. Path of least resistance from here = down.
  • Weekly : Need this week to end with a black candle below 75.63 to call an end to retracement rally. Early days yet. But hopeful.
  • Daily : Possible weakness developing today

No comments: