Dollar & Oil both Dropping

Author: Chris* Comments(5)

Headlines:

DOLLAR IN NEW SPIRAL…

…biggest one-day slide against euro

OPEC deepest oil cut to rescue prices…

YET PRICE TUMBLES BELOW $40 FOR FIRST TIME SINCE ‘04…

Let the charts do the talking…

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    • 5 Comments so far

    1. Tate on December 18th, 2008

      hey Chris, long time no talk.. happy holidays to ya. Looks like the dollar may stage a recovery rally soon but longer term it looks like lights out or at the very least a test of the lows around 71. That new ProShares UltraShort Euro ETF (EUO) will be a nice tool in the arsenal.

    2. Don on December 26th, 2008

      This is a very helpful juxtaposition Chris. I’m curious about your thoughts on this:

      Our charts are showing a strong bullish OBV divergence on the dollar (dollar falling while OBV rising) yet no similar divergence on oil. Likewise, there is a strong bearish OBV divergence with the recent Euro spike.

    3. Links of the Week | Securities Research Services on December 26th, 2008

      [...] Dollar and Oil both dropping [...]

    4. Holiday Link Time | Forex Story on December 27th, 2008

      [...] Perruna] discusses Dollar & Oil both Dropping and also weaves in charts of the S&P 500, Gold, and the [...]

    5. active group on September 17th, 2009

      A Break above 73 $ should assure 73.5 to 75 target. Only a fall below 71.4 $ can give 69 $ target. Trading range is 71-73.4 $

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