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Volatility remains high as the US Dollar continues to try and reverse its fortunes

Mon, Nov 30 2009, 05:05 GMT
by Pierre Charlebois

Trading Metro


This week saw a sudden turn back towards Dollar strength and a brief flight to safety amid the news out of the middle east regarding Dubai's financial debacle.

It demonstrates how fragile the overall picture is of the world economy. Knowing this, the question is; what event might cause further reaction by investors and traders to run to safety in the USD.

From a technical perspective a common way a long term trend would end is in an Ending Diagonal (wedge). I have included a potential 'Elliott Wave' count on EUR/USD as one possibility of such a hampering.

Of course these counts on shorter term charts are always quite subjective so anything is still possible.

 

USD Index - Trend-line still holding...

index


EUR/USD - Is there an ending diagonal forming?

eur

eur


GBP/USD - Top may hold
GBP


USD/JPY - Is a bottom forming?
uj

USD/CHF - Reflects the Index
USD/CHF

AUD/USD - Channel support broken
AUDUSD

NZD/USD - Is there a new channel forming?
NZD/USD

USD/CAD - Range narrowing; which way will the break-out be?
CADc

EUR/JPY - Will the reversal be significant?
EUR/JPY


Archive

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