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

To: John Pitera who wrote (6342)	6/27/2002 8:48:39 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 33421

Not debating it, but the USD was too strong over the short term and needed to consolidate. The monthly chart demonstrates this quite well and indicates that if we don't violate 105-106, we could be just be seeing a retest of the bottom channel of the monthly uptrend line. futures.tradingcharts.com And if you note, this is where the USD seemed to find some support in its oversold condition: quotes.ino.com So we're due for a rally in the USD, which could carry us up to 116 or so. After that, it's anyone's bet... But one thing is for sure, Asia and Europe can HARDLY afford to see the USD fall against their currencies. It will eliminate the "subsidy" their goods have enjoyed against US products, which means they will have to either wage a currency devaluation war, or restructure their economies to be more productive. Just my opinion. Hawk