The dollar (as represented by the U.S. Dollar Index) just keeps going, with a strong move today (not to say where it will end up by end of day, but the trend is certainly in place).
With commodity prices taking a hit and fears of a global recession, it appears the U.S.Dollar is being perceived as a safe haven (if you could imagine that). At least compared to the Euro, Japanese Yen, Pound Sterling, Swedish Krona, Canadian Dollar, and Swiss Franc.
Price has exploded about the 200 moving average (weekly chart), one of it's last tests of overhead resistance. If price can be supported above this $85 level we can eventually expect moving averages of price to show a bullish disposition. Price has gone parabolic, gaining 10-points in two months time. Perhaps by next summer a trip to Europe will be in the cards with a strong Dollar in the pocket!
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at firstname.lastname@example.org
I am always open to questions, comments, or suggestions on how to improve this blog.