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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...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.
* If the dots don't connect, gather more dots until they do...or, just follow the $$$...
Winter in Paris
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Feb. 1 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Feb. 3 @ 8:30 am ET - Employment Data
* Wed. Feb. 22, 2023 @ 2:00 pm ET - FOMC Meeting Minutes
* Wed. Mar. 8 @ 2:00 pm ET - Beige Book Report
* Wed. Mar. 22 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
*** CLICK HERE for link to Economic Calendars for all upcoming events.
Monday, October 03, 2011
Bigger Picture Outlook for the US $...
The US $ ended at the +2 deviation level of a downtrending regression channel (which began in June 2010) after breaking out today above the +2 deviation level of a a shorter rising regression channel (which began in May of this year), as shown on the Daily chart below. It's currently sitting just above the 80.00 level...which happened to be a potential target that I mentioned in passing in my post on June 23rd of this year: http://strawberryblondesmarketsummary.blogspot.com/2011/06/xmas-666.html
I'll be following this chart over the ensuing days/weeks to see whether a Golden Cross ultimately occurs on this timeframe (cross of the 50 sma above the 200 sma), and whether 80.00 holds as support, to confirm a further bullish bias on this currency.
In addition, I see the next level of resistance at around 83.00 as shown on the Monthly chart below...this is a fairly major price level, which happens to be combined with a confluence of the +1 deviation levels of both the longer and shorter downtrending regression channels on this timeframe. Above that, I see the next major resistance level at 93.00.