Tuesday, July 5, 2011

USD Update

Click on Chart to Enlarge

A contracting triangle looks to be forming in the US Dollar. This is very significant because it is a driving "fundamental" for the other markets. Usually triangle are interpreted as continuation patterns in a trend. And that may be the case here, I don't know. But they also can end complex corrective patterns. So be on the lookout for that here. I would look at a break of the "d" high as a bullish signal.

This is just tentative right now, but given the state of several markets right now, I think this should be on the radar.

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