Replies to post #26964 on FOREX TRADERS

[villas]

Maybe this has something to do with the $.........


17:33 US TECHS: Dollar Index Bearish Divergence Meets 40-day Average Boston,
December 01. The selling last week took the market to the 40-day moving average
where buyers surfaced to keep the bearish divergence on 14-day slow stochastics
from getting a boost. That average currently lies at 85.11; except for a brief
dip below it in September, the market has been holding above that average since
late July. Meanwhile, the bearish divergence on stochastics suggests that buyers
have lost the momentum they had during the last few months. These conditions do
not preclude a fresh probe of higher prices, but if that occurs the upside
should be limited. In any event, range trading within the constraints of the
last month at 88.46 and 83.10 are more likely.
Weekly charts have not yet completely abandoned all their bullish signals,
although 8-week ADX has reversed to a neutral condition from its bullish trend
signal, which had been active for months. Key support lies at the 8-week moving
average, now at 86.05. The market dipped below that measure last week but failed
to close below it. Monthly charts remain bullish.
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