Monday, September 14, 2009

USD index forming a bottom

USD index is probably forming a bottom. On 8 hour chart, MACD just made a bullish crossover and at the same time the index broke a 10 EMA to the upside. Turn around Tuesday may be coming!

I like USDCHF to the upside. As mentioned earlier, USD weakness has been overextended and it is time for a pullback. Even daily oscillators started to show loss of momentum. EURCHF is currently around 1.5128 which is pretty close to the line in sand that SNB is watching. This should prevent further CHF strength. Time for an intervention?

No comments:

Post a Comment