Dollar may pull back but S&P 500 setup hints larger trend favors gains | Forex Factory

  • Dollar may pull back but S&P 500 setup hints larger trend favors gains

    From dailyfx.com

    The US Dollar may weaken near term but the S&P 500 technical setup hints a top is in the works, pointing to a broadly bullish bias for the safe-haven currency. S&P 500 – Prices continue to tread water below resistance at 1292.90, the October 27 high, with back-to-back Doji candles pointing to indecision and hinting a bearish reversal may be ahead. Initial support stands at 1265.30, with a break below that targeting a rising trend line now at 1247.00. Daily Chart - Created Using FXCM Marketscope 2.0 CRUDE OIL – Prices remain locked between support at 101.28 and resistance at 103.35, the November 17 high. A downward ... (full story)

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DragonFire
Jan 10, 2012 7:04am
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today is not a good day to buy USD....all started yesterday...EUR, CAD and AUD had unfavorable data but still banged USD...so the USD whipping will continue unabated...until Greece starts to demand 75% hair-cut...poor data from China..didn't scare Mr. Market; Mr market is now calling a mole-hill a beautiful Castle..and on buying spree of AUD, CAD, EUR and NZD, and banishing USD in the process....betting on dollar is like bad sex, you will regret having an encounter.....it rises with force 1/10 trading days...and take 9/10 trading days sleeping..that's why I date AUD, CAD and NZD
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Anas99
Jan 10, 2012 7:14am
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can u tell me about xau/usd ??
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