The daily chart shows the blue lines of the triangle close-up. All three moving averages are lining out sideways within the triangle. The indicators are weak and bleak wanting to see lower lows in price, so after a bounce occurs, say today, the dollar may come back down to place a falling wedge pattern and set up positive divergence for a more substantive move higher. The stochastics are oversold. Projection is for the dollar to recover from a low in the 79.5-79.9 area and venture upwards toward 80.6. The dollar moves opposite the euro and opposite commodities and equities. Dollar down = euro up = commodities up = gold up = equities up. Dollar up = euro down = commodities down = gold down = equities down. Watch the euro chart as well to gauge the movement forward. The USD dollar daily chart has pierced the lower BB (not shown above) and the XEU euro chart has pierced the upper BB which reinforces the projection of a downward moving euro going forward with an upward moving dollar. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Nice call on ZSL yesterday!
ReplyDeleteSean
Damn! The crude and the gold are selling so agressive!
ReplyDeleteDo I smell spx bulls' blood in the air? :D?
V.
Keystone is a blind squirrel that finds a nut every now and then. SPX 1408.46 is key today, if it fails for five or more minutes, the bears will be whistlin' dixie. Big fight on tap for the open. Market selling depends on the euro and right now it remains elevated. Whenever the euro decides to drop, and the dollar pop, the markets will roll over. The euro is 1.3092 this is fifteen minutes before the open so use this as a point of reference today. A euro moving up over 1.31 and the bulls will rule. If the euro leaks lower from 1.309 then the markets will drift lower.
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