After a steeper corrction than I had thought the Dollar index is now heading for the 90 area. Within 6-8 weeks we will have made a severe top in the Dollar and another steep correction wil be due. ALTHOUGH IT WILL BE RATHER THE TIME OF THE YEN TO MAKE A BIG TURN. We might run into some resistance short term around 87/8 but that will be blown of within 4 weeks. America is makng the bolder bailout injections which will let them look as the winners with Dollar strength being a democratics ruling whie house effect. From 87/8 we should get a little setback towards 84/5 before we finally break through to the 90/2 area.
Tuesday, January 20, 2009
Dollar Index tech outlook - heading for the target zone
After a steeper corrction than I had thought the Dollar index is now heading for the 90 area. Within 6-8 weeks we will have made a severe top in the Dollar and another steep correction wil be due. ALTHOUGH IT WILL BE RATHER THE TIME OF THE YEN TO MAKE A BIG TURN. We might run into some resistance short term around 87/8 but that will be blown of within 4 weeks. America is makng the bolder bailout injections which will let them look as the winners with Dollar strength being a democratics ruling whie house effect. From 87/8 we should get a little setback towards 84/5 before we finally break through to the 90/2 area.
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