19 April 2011

USDX : Still There

  • Big squeeze (Finland vote) of past 2 days to high of 75.81 probably taken out a lot of weak bears along the way. Now trading at 75.22.
  • Key chart point on monthly and weekly chart is 75.63. As long as we do not close the respective time frame above this, bear trend is intact. Given how lopsided the market has been for a while now, this latest squeeze perhaps was inevitable (easy to say in hindsight).
  • Pop >75.63 and now <75.63 = failed failure = continuation ?

1 comment:

Andrew said...

Mkt so sideways now... good to take a break and clear the mind. =)