Wednesday, August 17, 2011

Dollar Moving the Market

The Dollar being down this morning is moving equities and oil, but that may soon change.

 This is the currency pair EUR/USD, there seems to be a slight top taking shape, other major pairs are seeing the dollar rise as well.

 This is the ETF for the Euro, FXE, with a negative 5 min chart

 Negative 10 min chart

 And negative 15 min chart

 UUP, (ETF proxy for the dollar) is positive on the 1 min

 Positive on the 5 min

 On the 10 min

And the 15 min. So if the dollar rises, which t appears it's getting ready to do, oil and equities should feel some selling pressure as there is an inverse relationship between them.


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