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Or you can now use TapaTalk again!Dollar Direction ^ V or >
- Thread starter mayday
- Start date
mayday
Active member
I wish every week was like last week. I cleaned up.
mayday
Active member
http://tinyurl.com/22j9hy A little something to read about the dollar direction.
350zCommTech
Well-known member
Looking at the chart of the USD, it appears that Friday was definitely the turn around. IMHO, the USD might be headed towards 81, this year's prior low. I'm anxiously waiting for an opportunity to get back into the I fund.
mayday
Active member
It does look to be headed south to the 20DMA I'll wait a tad before jumping into the I fund. I'm expecting another round of profit taking on wall street today.
James48843
Well-known member
Premarket- looks like the "I" is now down .06 cents.
FundSurfer
Well-known member
I'm surprised. I expected a "rush to safety" increase in the value of the dollar as a result to the terrorist action in UK. The lack of a rush could be that we are beginning to become desensitized to terrorist activity, or the recent car bomb defusion and poor attempt a car bomb at the airport were not scary enough, or the dollar is going down because there are a lot of people who want to sell dollars.
The dollar is pretty low right now. I don't really see it going a lot lower. I think there is a real good chance it bounces. I expect it will bounce at least 1% over the next week.
FundSurfer
Well-known member
"The prospect of renewed terrorist activity is failing to detract from the fact the Bank of England is tipped to hike interest rates at the end of the week," said David Jones, chief market analyst at CMC Markets. The bank's key rate is currently 5.5 percent.
http://biz.yahoo.com/ap/070702/dollar.html?.v=5
350zCommTech
Well-known member
350zCommTech
Well-known member
The dollar does a "sell the rumor buy the news" after a hike by BOE. My guess is that it will continue to rise tomorrow on strong non-farm payroll.
Bullitt
Well-known member
The dollar is sitting on support around the 80 level. This support level has held strong for us since the late 80's. At the very least it could cause a bounce in the days/weeks to come but it's going to take much more than that to get the dollar to reverse it's course to the upside.
FundSurfer
Well-known member
Where'd you get a chart that went back to the 80's? I've looked and have not found one that went back that far. I'm surprised the talking heads are not talking more about this.
Bullitt
Well-known member
Try this chart. Good stuff.
http://investmenttools.com/futures/...lar_point___figure_chart__dollar_futures_.htm
FundSurfer
Well-known member
I had not seen that one... Thanks! Too bad it isn't interactive. Oh well, beggars can't be choosers, I'll take whatever is free.
Bottom in 1992 seems to be between 78 and 79. You could say that the Gulf War caused the major slide in the dollar in the early 1990's And that the current slide started after 9/11. You have to wonder if we are going to retest the 1992 low.Similar threads
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