Tuesday, November 30, 2010

Dollar approaching resistance level

The dollar has had a very impressive run in the past few days, and is quickly approaching an important resistance level just below the 82 level. The MA(200) also lies at 81.73, further increasing the resistance in this area. A pullback or some consolidation around these levels, which should be positive for the equities, would not be surprising. That being said, this near term pullback or consolidation, if it happens, would just be healthy for  the dollar and the chart looks extremely bullish.

Take care and good luck!

1 comment:

Bill said...

very true about the dollar