Is the range about to break?
http://img359.imageshack.us/img359/23/index6kz.png
Printable View
Is the range about to break?
http://img359.imageshack.us/img359/23/index6kz.png
update of big piccy - nicely defined Regression Trend Channel, with index prodding the major trendline again. Good one to watch in case we have a breakout for USD. Bottom of RTC meets trendline this week....should be a defining moment.....
http://img388.imageshack.us/img388/6109/usdindex6me.png
Xerof
http://img451.imageshack.us/img451/1743/usdindex3ww.pngQuote:
quote:posted 4/11 in the chitchat thread
The USD Index has had a daily close above the longer term resistance line for the first time this year.
I'm wondering if we are about to enter a trending market at last, but plenty of time for confirmation - a weekly close above 90.50 would be nice, but will wait to see what the market tells us on that score
First daily, now weekly close well above T/L. Monday should be interesting
Xerof
I watched a video on Elliotwave.com this morning re a USD rally with an EW count on the index. It opened the possibility that the index was bullish given a 5 wave count off the bottom, but he ultimately discounted this interpretation unless it confirms with new and strong highs in which case this would be a wave 3. I'll put some pictures or a link up later if anyones interested.
Hi PeatQuote:
quote:Originally posted by peat
... I'll put some pictures or a link up later if anyones interested.
yes please:)
I have been away from forex for a few months with just having the odd dable ( which did me no good at all[B)]).
Now gathering info again and need to do a few weeks swat to catch up with whats what.
tia
Slam
try this - i think it will work for anyone.
http://www.elliottwave.com/subscribers/dxc/
Thanks Peat
Very interesting....are you taking a trial subscription ?
It would also be interesting to see how they do on the currencies.
regards - arco
i get their emails and have a logon but no money has changed hands.
interestingly I've been looking for this thread and not only is it about the USD index but its EWI and Prechter getting mentioned.
Bob is calling a major bottom for the USD now... and he might be right but the butterfly B point is at 62% retracment and not at 78.
D certainly bounces off 127 nicely tho.
the cloud weighs heavy above but it is thinning out when it gets easier to break through huh? - there is lots of historical resistance at 79.5 - 80 and none of the ichi moo cow indicators have bellowed - so strictly speaking hasnt confirmed in any way.
given that we cant trade the index what actual pair is the strongest component of the index ?
hi Peat , this is composition of dollar index which is dominated by euro, which i suppose makes sense as its representative of 15 countries.
http://iforce.co.nz/i/nnrxjdbd.gif