Monday, February 22, 2010 4:03:28 PM
Follow-Up: USD - At High, Yes ... But Should Get To Higher Last High:
Just a quick note here on the breakout from "Trend 2" channel following a short consolidation period.
As of today, that bearish channel's upper border has been violated as the USD climbs to a higher high. In the last posting regarding these competing channels (Click discussion link above), we mentioned a "Higher Last High", which I believe would represent the upper border of that "Trend 1" channel, IMHO.
Once that ultimate point is reached, I am expecting further consolidation below "trend 1" upper border with lows finding support along "trend 2".
$USD - 12-Mo., Daily:
$USD - 36-Mo., Weekly Chart:
- Dalcindo
Just a quick note here on the breakout from "Trend 2" channel following a short consolidation period.
As of today, that bearish channel's upper border has been violated as the USD climbs to a higher high. In the last posting regarding these competing channels (Click discussion link above), we mentioned a "Higher Last High", which I believe would represent the upper border of that "Trend 1" channel, IMHO.
Once that ultimate point is reached, I am expecting further consolidation below "trend 1" upper border with lows finding support along "trend 2".
$USD - 12-Mo., Daily:
$USD - 36-Mo., Weekly Chart:
- Dalcindo
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