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Constellation 1976
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Discretionary Trader Speculating in FX and Commodity Futures.
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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
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