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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Dots

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Sunday, December 14, 2014

$93.00 in the Cards for the U.S. Dollar?

$93.00 is the next major resistance level (Fibonacci confluence) for the U.S. $, as shown on the Weekly chart below.

The RSI is showing a negative divergence on this latest advance, and other indicators are overbought; however, Chaikin Money Flow is on the rise again, so the buying may not be over just yet.

$89.00 is the near-term resistance level that will need to be overcome and held to support a potential advance to the next level.