Wednesday, January 7, 2009

The Dollar

is a buy with a stop at 82.40.
There can be one test of this support.

Reasons for strength:
1) Market rise implies flow of US dollars to the US.
2) The treasuries fall imply that people were pushing the price up only temporarily for tax reasons. And with higher rates, a higher dollar!
3) Commodities are up and the dollar isn't down.

87 is my first target which would imply lower lows. If that is taken out then all systems clear for a test of 90.

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