Friday, September 17, 2010

Rise In the Dollar?

5 min 3C
15 min 3C
60 min 30C

We've been seeing daily 1-5 min accumulation in the dollar, now we have some substantially longer timeframes that are in leading upside divergences.

A strengthening dollar will likely halt anymore BOJ interventions for the time, this should have a negative impact on Gold, oil and the market as well as other commodities. I've seen this as a pullback in the dollar with an uptrend to resume, who long this time? I don't know if it's as long as the December 2009 rally but there should be a month or two of higher prices ahed I would think.

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