Yea, I know. Technically, and probably fundamentally, the dollar wouldn't see a sell off. I even emailed the author, Ilya, about it. Is my analysis better?
US dollar resilient despite sharp S&P 500 advance
THE TAKEAWAY: The US Dollar managed to hold up near familiar technical levels despite a sharp rally in the S&P 500 that might have been expected to sink the haven currency. US DOLLAR TECHNICAL ANALYSIS– Prices are testing above resistance at 10044, the 32.8%Fibonacci expansion. This barrier is reinforced by rising trend line support-turned-resistance at 10064. A break above the latter level aims for the 50% level at 10082. Initial support is at 9995, the 23.6% expansion, with a reversal below that exposing a rising trend line at 9933. Daily Chart - Created Using FXCM Marketscope 2.0 S&P 500 TECHNICAL ANALYSIS – ... (full story)
- Posted: Jan 2, 2013 10:59pm
- Submitted by:Category: Technical AnalysisComments: 3 / Views: 1,576