Thursday, 9 December 2010
€$ & USDX...continued....continued
The DX has hit the RL in the top RHS of the chart. At the same time € has found its feet on an important RL. It may hold and cycle and break downwards. See (arrows) the DX support again from the extended RL from the old fork ( see previous post). Be alert for a potential double top in the DX if we do not make a new high. If we stagnate at this level (80.80) too long there could be a nasty drop but the overall trend up will not be changed and it could offer cheap $$$$$$
Link to current background
Here are three charts all micro time frames but the reaction lines show you whats going on underneath the 'hood'.
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