Wednesday, May 19, 2010

DOLLAR

We had a shooting star pattern form on Monday, but got no confirmation on Tuesday.  Well today we got an engulfing pattern in the same resistance zone as the shooting star formed.  RSI was extremely overbought and just crossed back below this zone.  MACD shows slowing momentum.  The bullish nature of this rally may cause this market to dance sideways in a choppy manner before going lower.  At any rate, you are finally getting some bearish signals.  Let's see if we get some follow through selling tomorrow.  I would sell below 86.045 with a stop above 87.625.


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