Dollar Breaks Downtrend

Dollar Breaks Downtrend

The dollar hit my 85.3 target but has now bounced and broken the recent down-trendline (B). If the dollar holds above 86.2, then it's headed back to 87.2 and possibly higher.

The dollar has also been amenable to elliot wave analysis, and currently the dollar is stalling at the 31.8% retracement level from the peak at 87.6. This indicates that the dollar may begin another move downwards to at least 84.8

LOADING
(optional)
(optional)
Copyright 2009. All Rights Reserved.   Site Map
Disclaimer: All content on spychart.net is intended for recreational purposes only. Consult a licensed financial planner before making any decisions with financial ramifications. The author is not liable for any financial, mental, physical, or spiritual loss or damage incurred by the reader.