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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

N.B.
* 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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DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

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NOTABLE POSTS WITH IMPORTANT UPDATES...

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.