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Where Will the USD Rally End?
Mon, Aug 25 2008, 14:34 GMT
by Pierre Charlebois
Trading Metro
The current rally for the USD had been in some cases record setting.
So turning trader sentiment does not happen easily but sometimes may
happens suddenly.
None of the current major pairs appear to be
at important technical junctures so I am hesitant to say bottoms could
form here. So for the time being it's most important to be patient and
wait for clear indications counter-trends have resumed. I have made
reference to where support/resistance lie in the event the USD rallies
further.

If the EURUSD breaks below 1.4630, then support lies around 1.45 - a break above 1.49 signals upside potential.

The GBPUSD's support lies in the 1.85 area. The levels to watch here are 1.84 and 1.8780

Here to on the EURJPY we have reasonable levels to use as break out
points. Such as 1.60 to the downside and 1.6350 to the upside.

The USDCAD is in a battle between trading with Oil or trading with it's
economic indicators being tied to the US. Again, until the picture
clears up waiting to trade the break-our is likely the best trade.
Good Trading,
Pierre
Published on
Mon, Aug 25 2008, 14:42 GMT
Archive
- Dollar could be reaching the Rubicon
Published On Mon, Nov 23 2009, 02:09 GMT
- Which way is the trend now?
Published On Sun, Nov 15 2009, 20:56 GMT
- Dollar trying to break-out. Will this be the week?
Published On Mon, Nov 9 2009, 05:30 GMT
- Daily volatility is increasing in all markets including Forex
Published On Mon, Nov 2 2009, 01:34 GMT
- More USD strength is likely but I still question the overall trend
Published On Mon, Oct 26 2009, 04:44 GMT
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