Just looking over the USD Chart
03-04-2009, 09:46 PM
#1
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So I am looking over this bitch trying to figure out where we are headed on this dollar rally, the next few days will be important in this rally if you are into this whole charting dealio. It just broke through the upper resistance, if you look at the historical chart you can see it did that in mid November, it then headed for the floor, but did not break through the lower resistance. i have no doubt we are headed for the next wave down, but what you want to watch here is the lower resistance which lies in the 80 range and more significantly in the mid 70's, if it breaks that holy **** look out! To sum up what i am trying to say or the warning i am sending your way, if you have say 100k in us dollars and this thing goes below 80 you need to look at swapping your currency into something else, however i would do it when it approaches the 80 mark.
That is all.
That is all.
03-05-2009, 10:29 AM
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The close charts don't give enough info for technical analysis. Back in October when it broke through it did have lots of momentum and a retracement would be expected which is what happened. Then the old upper resistance became the new lower threshold, which is about right. The moving average looks pretty decent too! I think candle sticks and some bollinger bands will tell another story but I agree 100% with you. If it goes below 80, watch out! As of now though, its looking like a decent rally!
03-05-2009, 01:04 PM
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Originally Posted by sidewinderx7' post='917781' date='Mar 5 2009, 11:29 AM
The close charts don't give enough info for technical analysis. Back in October when it broke through it did have lots of momentum and a retracement would be expected which is what happened. Then the old upper resistance became the new lower threshold, which is about right. The moving average looks pretty decent too! I think candle sticks and some bollinger bands will tell another story but I agree 100% with you. If it goes below 80, watch out! As of now though, its looking like a decent rally!
I simplified the chart for simplicity.
03-18-2009, 11:34 PM
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I was just going to say...
The price where support might kick in looms ever closer. Soon we're going to know if that drop we saw today is indicative of something big. I really think it's going to form a head and shoulders though. That buys an extra couple of months, which seems a lot more likely than an all out tanking of the dollar starting yesterday. You guys are fucked either way though...
The price where support might kick in looms ever closer. Soon we're going to know if that drop we saw today is indicative of something big. I really think it's going to form a head and shoulders though. That buys an extra couple of months, which seems a lot more likely than an all out tanking of the dollar starting yesterday. You guys are fucked either way though...
03-19-2009, 10:55 PM
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i can't help but wonder if people really realize the significance of the Fed Monetizing it's own debt, the kitchen sink has been thrown at a 650 trillion dollar problem. In short Game Over.
That said here we are today at 83, the dollar has seen the worst week in 24 years and that was a slide that started in the middle of the week. With the announcement that we are now buying our own debt (undoubtedly because everyone else refuses too) we have essentially began chewing our own foot off, too bad the trap pinches vital organs, guess we'll chew at them too..... There is no doubt now the world's reserve currency is done, none in my mind that's for sure and if you watch the rest of the world dumping their greenbacks you can no longer put your hands over your ears and yell NANANANANANANA.
That said here we are today at 83, the dollar has seen the worst week in 24 years and that was a slide that started in the middle of the week. With the announcement that we are now buying our own debt (undoubtedly because everyone else refuses too) we have essentially began chewing our own foot off, too bad the trap pinches vital organs, guess we'll chew at them too..... There is no doubt now the world's reserve currency is done, none in my mind that's for sure and if you watch the rest of the world dumping their greenbacks you can no longer put your hands over your ears and yell NANANANANANANA.
