Kimble Charting Solutions Blog

Stocks Down…Dollar doesn’t rally…Surprised?

Posted by Chris Kimble on 08/03/2011 at 10:59 am; This entry is filed under Dollar Update.

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Anything surprise you about yesterday?    U.S. Dollar couldn't muster much of a rally yesterday, despite more than a 250 point loss in the Dow.....might haver surprised a few investors! 

This price action in the Dollar seems to reinforce the current strength of falling resistance line (1). 

Did the Dollar have a variety of good excuses to rally yesterday? Yes!         Does one day make a trend? No!  Falling resistance line (1) has been in place for months and resitance is resistance at this time.

 

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