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[dalcindo]

Re: $USD - Target Reached ... Expect EURO Rally:

As mentioned in prior entry (See: msg# 53459 - "USD - At High, Yes ... But Should Get To Higher Last High"), we anticipated that despite technical overbought signals, the rally in $USD would first likely consolidate at the upper border of Trend 2, then continue to reach the next higher level up to the upper border of Trend 1.

That expected level was reached today, and the technicals are now pointing to internal weakening, suggesting that the point of EURO rally may have been reached.

So, look for strengthening of the EURO as of next trading week, as the US Dollar is likely to loose ground from recent yearly lows, IMHO:




- Dalcindo


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Message in reply to:
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:


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- Dalcindo