Let's Learn & Earn at Any Time, At Any Where, At Will :): Dollar Holding Own After Last Week’s Gains

Tuesday, December 15, 2009

Dollar Holding Own After Last Week’s Gains

The US dollar is for the most part flat in early week trading. Continued gains would target 1.4410/50 in the EURUSD.

DT1214EUR

The big story last week was the decline below 14625 on Friday. A trendline, channel support, and pivot lows (14800 and 14625) have been broken-the evidence supports the larger bearish wave count. The next potential support is 14410/50. Near term structure is somewhat elusive. Immediate trend is bearish under 14780. Above there exposes 14820, 14910, and 14970 as resistance. Listen to additional thoughts regarding the EURUSD.

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