Friday, September 18, 2009

USD Index ($USD) at 76 level - long term line in the sand



USD Index is trading close to the 76 level which is often described as Line in the Sand.

Another interesting technical fact is the Falling Wedge Pattern which has bullish implications - only given the the current lows hold!
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2 comments:

  1. Crude Oil TraderSeptember 19, 2009 at 4:00 PM

    I did open a small position in UUP this week. Looks like markets are rolling over going into October. Even the pom pom girls on CNBC are starting to flop. What kind of indicator is that?

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  2. KaprikornSeptember 20, 2009 at 3:14 AM

    Hi Crude oil trader,

    I didn't watch the UUP - but the look at the chart was insightful. I posted some observations that might suggest a reversal in USD is in the making.

    tnx for adding me at your blog roll - appreciate it!

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