Sunday, December 13, 2009

Time to go long the dollar?

If you look at the dollar chart you'll see now the DXY0 is staying above the 50 Moving Day Average something it hasn't done since April. Also you can see that it is beginning to enter the Ichimoku Cloud which if it passes all the way through and begins to trade above the cloud can be a reliable bottom or top signal. On Balance Volume is beginning to head north indicating accumulation.

Stochastics may be signaling something different a potential short-term top.

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