USD 02 (Oct 09 - Sep 10)

[kennynah]

thanks...

if so, it would be in line with the view that eur/usd is also pausing from an oversold situation...consolidating...and downward resumption after dissolving the oversold parameter....

i have a /DX 85.60 as a immediate short term support, if this is a mere correction...

[kennynah]

i have a /DX 85.60 as a immediate short term support, if this is a mere correction...

did a 85.555 low....but now when i look at the latest chart ... i'm not too sure if this support can hold ....

partners may cheat....but charts almost never ever lie....

[winston]

From CIMB:-

RSI support trend line broken for Dollar Index; 85.5 key support.

The Dollar Index’s daily RSI broke below its immediate support trend line this week, a likely indication of tiring uptrend momentum. The upside looks capped for now.

A break below the support trend at 85.5pts would indicate more near-term consolidation for the Dollar Index. In fact, the index tested the support trend line yesterday and rebounded from this trend line.

http://www.remisiers.org/research//Alph ... ckdown.pdf

[kennynah]

i like CIMB's after the fact report

after a look at the latest daily chart...

i have adjusted /DX support downwards slightly to ~84.70...

your technical read, please... thanks...

[winston]

Weekly Review

The dollar sold back starting Wednesday and while a lot of people are questioning whether the dollar has peaked, the action suggests that is not the case. It continued its pullback Friday (1.2564 versus 1.2494 Thursday) after trading below 1.22 Wednesday before the reversal to the downside that day, but it is holding near the 10 day EMA.

As noted Tuesday through Thursday, the dollar is close to bumping its late 2008 and early 2009 peaks and feeling some resistance. It also put in a spectacular run from early May and is near term overextended.
That combination logically leads to a pullback to test the move. That is what the chart shows right now, and if it continues this trend the dollar is just testing and likely resumes its move.


Source: MarketFN.com

[winston]

Double Top in the Dollar Index ?

[winston]

Weekly Review

The dollar was up on Friday. It had a rough week because there was some belief that Europe may recover when China said they are European backers. Of course China holds a lot of European bonds and Euros and it will back its investments.

Just the way it says it will stay with the US, even though sometimes it does so a bit begrudgingly. The dollar rallied (1.2268 Euros versus 1.2361 Thursday). The dollar is still at a double top at an important level. It is at the late 2008/early 2009 peaks and is encountering a bit of resistance there. There is a bit of double top and a bit of good news out of the EU, so the dollar is stalling a little.

It does not look to be in serious trouble even though it has a small double top in place. It may try to come back a bit more and test. This was a heck of a run during the fear that hit in early May. A bit of a pullback into the range above the 50 day EMA would not be out of the ordinary.


Source: MarketFN.com

[kennynah]

seeking your technical read on dollar index, please... thanks...

i have a top side hurdle at ~87.50... a downside support at 86.90 (followed by 86.40)

[iam802]

Very nice resistance there.. at 87.5 (it was a level challenged 4 times in May alone)

Further up, we can look at the Weekly and another level will be around 89+

Edit (corrected my reading for support)
Support at 86.70, 86.40 and 85.5

[winston]

Darryl Guppy thinks that the parabolic path of the Dollar Index will continue for 3 to 6 weeks before it crashes.