$USD US Dollar Daily Chart
The dollar move is explosive over the last month. Oil, copper and commodities are weakening, especially last week, with the higher dollar, but the 'Teflon Equity Markets' keep moving higher, counter to what would be anticipated with the higher dollar and lower euro. The stochastics and RSI are overbot and negatively diverged wanting to see a spank down for the dollar, however, the MACD line and ROC want to see another higher high after a quick pull back. Then the dollar should move sideways to sideways down for a few days or couple weeks. The dollar weekly chart is long and strong wanting to see higher highs so once the dollar digests the rocket launch move over the last month, more upside should begin again. Higher dollar = lower euro = lower equities, but the equities did not cooperate last week. 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.
this a has really put a crimp on our commodity trading... what are you thought with this market over all we are sort of hoping for 1525 today but anything could happen...
ReplyDeleteThings continue to look negative for markets but the Big Ben money pump lingers on. The charts continue to say down so the bearish mantra will have to be repeated for a few more days or this month until we can see resolution. With oil, copper, commodities, miners, steel, materials, industrials all down, this is ridiculous, equities should be down. The central banksters and politicians have ruined the markets, there may be a rude awakening for price discovery coming in the future.
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