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FX Trend Report
12
0
9−period RSI triangle pattern should be watched
Thu, Nov 19 2009, 10:40 GMT
by Peter Ruud
Both the DXY (US Dollar Index) and EUR/USD have formed triangle patterns within their respective 9-period daily RSI indicators. A break above RSI formation resistance & above 1-week trendline resistance at 1.4990 should reinvigorate EUR/USD bulls back towards the 1.5030-65 zone, above which exposes channel & wedge resistance at 1.5190. Below RSI formation support, however, coupled by a loss of the 50-day MA at 1.4808 (projected) would shift near-term expectations towards the bottom of a 3-month bull triangle at 1.4753. This would translate into an upside breach of the DXY's 20-day MA and would refocus the resistant 50-day MA now at 75.63.
Published on Thu, Nov 19 2009, 10:40 GMT
Archive
- 9-period RSI triangle pattern should be watched
Published On Thu, Nov 19 2009, 10:40 GMT - Inflection point for risk appetite
Published On Mon, Nov 16 2009, 10:14 GMT - EUR/USD probes above channel midpoint
Published On Thu, Nov 12 2009, 09:22 GMT - EUR/USD tests channel midpoint
Published On Thu, Nov 5 2009, 18:59 GMT - DXY rejects at key moving average
Published On Thu, Oct 22 2009, 09:13 GMT
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