Good set of eyes Iso. Nice catch:)
Could that be a right shoulder developing on the Monthly chart of the American dollar? stockcharts.com[w,a]miclyymy[d19900101,20011119][pc5!c21!b50!b100!h.02,.20!i!b200!f][vc60][iUl14!Lc20!La12,26,9!Lh14,3!Lb14!Lg] & check out those indicators -- overbought.
ADX suggests that the prior trend up is weakening & to verify it, check out the negative divergence occurring between price & MACd.
3 year Daily chart clown buck stockcharts.com[w,a]dillyymy[d19970101,20011117][pb50!b100!b200!i!f][vc60][iUl14!Lc20!La12,26,9!Lh14,3!Lb14!Lg]
Since ADX is well below 20, check out the Slow Stochastics topping out & turning down from 80, also note that everytime the RSI hit 70 with ADX below 20; the U.S $ turned down.
The 50 simple moving average is under both the 100 & 200 day MA's & it also appears that the 100 day moving average is rolling over & about to cross under the 200 simple moving average for the first time since Oct. 1999 & Oct. 1998.
& we all know what happened in '98
Regards,
Peter |
