Tuesday, October 02, 2007
Dear Readers , $US Dollar has been stretched to a break. It must react at least a bit. Outlook into the end of the year looks bleak, but the indications are that we are going to have a little rebound here. Caution, I would not use this chance to get rid off one's core None Dollar Holding, no way. $USD is cursed with SOPITALISTS in charge. Only traders my trade out in $ short term.
Update (graph is from yesterday). $ is at the resistance with CHF=1.1710 and EURO=1.421. If/when these levels are substantially breached there is 1% move at least in $ upside, Othervise, lower we go now and here.
08:00 ET, O my! The world moves so fast. Well, the move suggested above had alredy happend. Is $USD done, very possible that this is all Dollar will manage. Be careful here and use short term signals to manuver.