Note the weekly continuation chart for nearby U.S. dollar-index futures. Recent price action has pushed above and negated a solid downtrend line that had been in place for nine months.
Note, as well, at the bottom of the weekly chart for the U.S. dollar index that the Moving Average Convergence Divergence (MACD) indicator has recently produced a bullish line crossover signal, whereby the thick blue MACD line crossed above the thin red "trigger" line of the indicator. This is the first bullish MACD signal given on the weekly chart since May of 2008. In July of 2008, the dollar index began a major rally. Remember that it's important for traders to keep a close eye on the key "outside markets" that have been impacting so many other markets recently.
Those markets are the U.S. dollar index, crude oil, gold and the U.S. stock indexes.
Hi Metalda,
ReplyDeleteTQ and u r most welcome anytime.
Your choice of article to post a comment sort of let the cat out of the bag >>> LUCY is a FOREX or at least a related currency futures trader. NO? hahaha!!!
Either, neither or hitherto most probably a currency broker from the link provided.
Whatever or whoever LUCY probably be, U R STILL WELCOME to ZL's humble domain.
BTW that US$ Index publication was b4 Christmas 23 Dec 2009 and the price then was 76.76
ZL forcasted a strong trend ahead for this index and with a prediction / forcaste of 80.00.
A little more than a month (5 weeks?) and it is nearing home base >>> YIPEEEEE!!!!!
The US$ Index hit a 79.58 today b4 falling back a little.
Any professional comments or articles related to this subject will be most appreciated.
Hope to hear from LUCY again.
Regards
ZL