Seeking Alpha

Constellation 1976's  Instablog

Constellation 1976
Send Message
Discretionary Trader Speculating in FX and Commodity Futures.
My blog:
Constellation 1976
  • USD Index closed the week sub 80 - bearish momentum accerates. 0 comments
    Jun 27, 2009 7:42 AM | about stocks: UDN

    USD Index closed at 79.83 - which is important to the pivotal 80 level.

    The trendlines I added give us a glimpse of the interesting situation of the US Dollar.
    It is consolidating right below the recent Supportive trendline but also below the significant to the Mid-term direcion 55-Week MA (81.48). Last Support comes at 78.50 where the last Support trendline lies.
     

    On the other side the momentum of the downside move is accelerated - ADX is edging higher at 23.39. Last week was a classic Doji candle which should be read as indecision in that particular position and the present week's close below 80 is a confirmation to the downside direction. 

    Stocks: UDN
Back To Constellation 1976's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.