Tuesday, August 3, 2010

U.S. Dollar Index.

A change in trend (to up) could correspond with a turn in the equity markets--all of which could occur during the solar tsunami.
Monitor the USDX closely--especially the ADX line. If it turns down and a reversal candlestick pattern occurs it may present an opportunity to make a trade against the significant bearish sentiment on the Greenback basket.
  • bearish sentiment is significant.
  • 200 day moving average may offer support.
  • 4.236:1 Fibonacci fan line support at current levels.
  • RSI and MACD in oversold territory.

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