21 March 2011

US Dollar Intermediate and Long Term Charts



A weak chart yes, but a burial would likely be premature.

Currencies notoriously overshoot. A clean break of 71 and we'd be out of Kansas, Toto, and into some brave new world.

Still, if the buck wishes to gather itself together, it might well do so soon. Or better yet, the yen and euro must weaken, because the DX index is a primarily a mirror of their own relative positions.