Moneta Musings -
Interesting observations from outside Wall Street and Washington.
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Wednesday, June 15, 2011
Hi Ho Dollar!?
With all that is going on the Dollar has had mini parabolic move on the DXY today but is still trying to break above the short term down trend line seen in the chart below. I am not sure if it can do much more than what we are seeing here today as the stochastics and Williams %r are showing overbought conditions and the feel of the situation is as if the DXY had reached stall speed. Of course the market has been know to make fools of us all!
Click Image to enlarge
The longer term down trendline still waits above at 77.50