Already long USD vs CAD+GBP. Mind correlation and concentration risks.- Watching weekly downtrend line in USD index. Resistance this week at 78.76. Last 78.34. Buy break of 78.76 on close of week.
- Monthly still in downtrend but candle showing possible pause.
- Feeler trade in hope of getting lucky and catching THE USD bottom in the process. Expect this to be a difficult trade with many false starts.
- Note conflict with Gold upside triangle continuation outlook. Take each signal as it comes and disregard conflicting logic.
31 August 2009
USD Index : Watching 78.76
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