Thursday, November 16, 2006

Dollar Update - Bullish?

Well at least not bearish. It looks at this stage to be supported @ 84.50 and has edged sideways out of the channel I have drawn in.

I'm a bit questioning of the Bull case here because of the technical picture of the basket of currencies the USD Index trades against. They either look bullish or look to have support in most cases.

I'm not really convinced, so no position in the USD.

The Aussie however, looks like a nice long setup. (Dynamically updating chart)

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