I am posting this thread for all the USD bulls out there. I am one and i would like to hear from others on this form.
**Please note this is not for the fundamentalists I am not looking to see reply after reply of facts and reports of why the USD should and will go down to zero**
The posted chart is USD Index Monthly.
As we can see the USD started it's bear run in 2001-2002 this lasted till the 7th 08 this is a long trend even in FOREX terms.
As we can all see is the strong break out that the USD has pulled out of a 7.5 year long bear market, a strong statement right there. I see a pull back on this to the 85-75 area , no lower then 75 or the trend is in trouble.Rretrace and rally off this area is a compelling sign that the USD is now in a long term bull market.
The USD has made a very fast break gaining 20% this year to make highs not seen since end of 2005 - 2006. The price has broken out of a descending triangle. Notice that there was support at 80 and price made a final capitulation thrust down to the low just above 70 to it's break out this is also a sign of a possible mayor trend change.
Here is my evidence. I am a bull and look forward to your comments.
My final note is nothing stays in a bull or bear market forever things always change in the market. These changes come no matter how many experts and people think it could never happen.
I am calling a bull market in the USD If the price fails at 75 I will realize that I am wrong.
Cheers
>Apoca<
**Please note this is not for the fundamentalists I am not looking to see reply after reply of facts and reports of why the USD should and will go down to zero**
The posted chart is USD Index Monthly.
As we can see the USD started it's bear run in 2001-2002 this lasted till the 7th 08 this is a long trend even in FOREX terms.
As we can all see is the strong break out that the USD has pulled out of a 7.5 year long bear market, a strong statement right there. I see a pull back on this to the 85-75 area , no lower then 75 or the trend is in trouble.Rretrace and rally off this area is a compelling sign that the USD is now in a long term bull market.
The USD has made a very fast break gaining 20% this year to make highs not seen since end of 2005 - 2006. The price has broken out of a descending triangle. Notice that there was support at 80 and price made a final capitulation thrust down to the low just above 70 to it's break out this is also a sign of a possible mayor trend change.
Here is my evidence. I am a bull and look forward to your comments.
My final note is nothing stays in a bull or bear market forever things always change in the market. These changes come no matter how many experts and people think it could never happen.
I am calling a bull market in the USD If the price fails at 75 I will realize that I am wrong.
Cheers
>Apoca<
Attached Image (click to enlarge)
