Mucho has been written about the USD nowadays, and that’s probably because many expect a bounce in it. Technically yes, but then we never know if this is the low! As followers of Technical Analysis we must not be predictive but be reactive.
From the USD Index chart we know we have a probable DB. Period that’s it; a probability of a DB and along with it we have a logical SL a few pips below the DB (that is if you decide to play long) and of course the target above (77.5 and approx 79 to begin with).
Technical Analysis doesn’t fail coz it always gives you the escape route (the STOP LOSS) its us traders who fail when we just fail to use the STOPS!
While you are at it I would suggest you read my last weeks post on Dollar here and a very good write-up by noted analyst A.K. Prabhakar here!
? is not if $ will collapse but when it will collapse.A video.
ReplyDeleteEveryday America needs to borrow 3 b dollars to keep their economy going.
http://www.bearishnews.com/post/2642