Dollar Headed to 80.1

Dollar Headed to 80.1

Remember when I said to wait to short the dollar when it hits 83.3? Well it hit 83.3 this weekend and since then has tumbled a whole point. The dollar could continue all the way back to support at 80.1 or from trendline A before resuming it's upward course. Alternatively if the dollar breaks below 80.1 then I expect a much steeper drop in the dollar to take place, possibly taking the dollar to 76.6. This should help get a rally started in SPY.

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.