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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (4317)	7/19/2001 11:35:43 AM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 33421

David, There are a couple of interpretations that I can have on the USD depending on the chart perspective that I look at. The triple bottom break shows that price support was broken. That would be a bearish thing. It did pull down to trendline support at 117.5 and held (it would have to hit 117.0 to break trendline support). This is good (bullish). What it does from here is important in what I think will happen. If it hits 116.5, I would switch to a different view of the USD chart (the 1pt box). stockcharts.com This would give me the next trendline support, which would be at $105. The USD has been following the trendline that I posted with the first chart very closely. This is using the .5pt chart. stockcharts.com So if it breaks that trendline, I would become bearish on the USD. The fact that the USD broke the triple bottom makes me think that the trendline support could be next. JXM