USD Dollar Weekly and Daily Charts

The dollar runs the show. And the talk of Fed easing, as well as China lowering the triple R's at any time, keeps the markets elevated.  Traders are sniffing the easy money pumps on tap.  Copper is up big this morning on the potential China easing. The Fed easing will weaken the dollar which in turn strengthens copper, commodities and equities. The weekly chart shows the inverted H&S we have watched for quite a few months now.  The target area is 88-90.  In the nearer term, as the dollar price has increased over the last two months, the indicators are long and strong except for the RSI and MACD line that would like to see price begin to roll over, which is occurring in recent days due to all the easing talk.  The weekly chart is favorable to another move higher once the pull back finishes.

The daily chart shows the sideways symmetrical triangle to begin the year, which targeted the current price levels, target achieved.  The red rising wedge allows space for further upside for price.  The red lines show the negative divergence that caused the spank down over the last few days. Over the last couple weeks, the green lines for the indicators are agreeable to another move up to the top rail of the red rising wedge. Projection is for another high in price to come after this pull back finishes, which will result in another spank down, then likely sideways movement thru 81-84 as the dollar, and markets, sort out the extent of quantitative easing. The dollar is currently testing the 20-day MA support level at 82.71.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.