Wednesday, February 8, 2012

USD US Dollar Index Daily Chart Inverted H&S

The target for the inverted H&S was achieved; head at 73, neck at 76, target 79. Or, 73.0, 76.5, 80.0. Price then received a spank down. The 200-day MA sloping up is very bullish for the dollar. 81 offers up strong resistance. 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.
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2 comments:

  1. AnonymousFebruary 8, 2012 at 1:34 PM

    1:30pm...I'm watching the AUD/JPY cross. It's showing negative divergence on the daily MACD. Looks like it may be topping for a bit of time. Risk off?

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  2. Keystone SpeculatorFebruary 8, 2012 at 6:57 PM

    Hello Anon, Keystone posted a couple more charts showing the negative divergence with both the euro and the SPX this evening, so yes, it looks like we may be on the eve of a risk off move, dollar up move = euro down = commodities down = equities down.

    CRB 310.50 is uber importante, if it fails the market bears will receive some strong downside momo.

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