Dollar blasts above falling resistance!

Posted by Chris Kimble on 10/31/2011 at 2:05 pm; This entry is filed under Dollar Update.

 

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Started the day off today reflecting that the Euro was facing stiff resistance. Last week I shared that the Dollar looked like it had shrank enough in the chart below.....

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The breakout above resistance in the top chart and the breakdown in the Euro is not good for the risk trade!!!

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2 Comments

  1. t reilly November 1st, 2011 at 5:45 am

    the dollar always breaks the long trendline runs up then drops back fast and then blasts off.

  2. Dan Johnson November 1st, 2011 at 9:48 am

    What a roller-coaster ride for the dollar over the past week!