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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Slumdog who wrote (20886)	6/19/2009 2:11:06 PM
From: RockyBalboa	1 Recommendation Read Replies (1) \| Respond to of 71456

Pretty unresolved right now; nearly the same as the pound (through this really looks strong). The CAD is weaker than other currencies, and with the cut to 0.25% it want to signal to the market that it is too high and should trade weaker. It held pretty well at 88c but looks vulnerable particularly to reversals in commodities. A run over 90c would signal another breakout (perhaps in conjunction with DX going decisively below 80), if this takes too long to occur, and is unresolved, look for the next support at 85c which could form the right shoulder (and some midterm support line originating in march and the april lows) Edit: as vi pointed out, the DX was driven to some support (and the EUR briefly hit 1.40 in that campaign) but then sellers took over and the DX rebounded; since that time the CAD lost its gains and is red; also commodities are weak, even Crude). Could be the expiration day, but also a general weakness..