A very interesting last 30 days…let’s look at the weekly and daily charts on the Almighty Buck. Let me get this straight the greenback rallied on speculation that a rate hike may happen sooner rather than later; higher rates should equate to a stronger dollar. Yesterday Bernanke set the market straight verbalizing that not so […]
Tag Archives | U.S. Dollar (USD)
US Dollar; Are the Greenback’s days Numbered?
Let’s look at the US Dollar over the last 3.5 years. With the exception of June 2010, when the dollar traded as high as 88.80, the 84/84.50 level has served as stiff resistance. It appears a triple top pattern is being established on the weekly chart over the last three weeks. The horizontal red line […]
Previous Australian Dollar Trades under Parity Have Been Short Lived
The Australian dollar is working on its first positive day in the last 11 sessions. We’ll need today’s close above 0.9736 for this to become a reality. Aussie bulls, and commodity bulls, should look to the long side as we’re far into oversold territory now. As seen below, we appear to be finding mild support… […]