Wednesday, December 8, 2010

Dollar at interesting levels

In a blog post this weekend, I had pointed out that dollar was at an important support level. Well, the last two trading days, the dollar has found support exactly at that level, which happens to be both the MA(20) and 38.2% Fibonacci level, but interestingly, has also met resistance at another Fibonacci level on both these days - the 80 mark. Keep an eye on this little trading range that has formed in the last two days to get an idea of where the overall markets are headed.

Here are the links to S&P analysis and gold analysis.

Take care and good luck!

No comments: