July 26, 2010

Dollar Index becomes oversold

By Arthur Hill
Chart Pattern
The US Dollar Index ($USD) became oversold as RSI moved below 30 last week. In addition, notice that the index has retraced just over 62% of the March-June advance. A channel has taken shape since early June and traders should watch for a channel breakout to reverse this downtrend.

100726usd
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Posted by Arthur Hill at 05:42:51 AM in Chart Pattern

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