Thursday, 9 August 2012

US DOLLAR 9 AUGUST 2012


PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.

USDOLLAR - follow me on twitter @fxdailyforecast and stocktwits.com/fxg
We have a new AB bullish swing on the dollar index with price having reached the A low of this swing again and has given us a morning star indicating a return deeper into the swing.

FOR TODAY:
Price seemed to have held at the support lows, we will see if we get a rally from current levels higher up.

If we don’t get the setup we are looking for then we don’t trade.

SHORT: Will be going short only IF:
No short trades considered at present.

If we don’t get the setup we are looking for then we don’t trade.

LONG: Will be going long today only IF:
We have a bullish cs formation; look for rallies with limits up at 100.63.

A sustained break of the A low negates this view and opens the downside.

If we don’t get the setup we are looking for then we don’t trade.

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