Monday, May 17, 2010

DOLLAR



The dollar index formed a shooting star candlestick pattern today.  A potential short term top may be in place here as this pattern formed in a solid area of resistance.  There is cluster of fib projections in this 86.25-87.25 zone combined with DR1, DR2, WR1 pivot points.  RSI is in overbought territory (warning signal only as can stay overbought for extended period) and MACD shows upside momentum is slowing.  Let's see if we can get downside confirmation tomorrow.

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