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Dollar Resistance
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Dollar Resistance

Dollar Resistance

by The MoleOctober 26, 2009

The ole’ buck seemingly popped a bottle of Canadian Viagra this morning and mustered the equivalent of a currency hard-on:

I would recommend that if you’re long the buck (or short the Euro) you take profits once/if we reach 76.3.
[some content removed upon 3rd party request]

2:30pm EDT: Here’s my new short term SPY channel for my stainless steel rats:

I would like to see a little bounce here, at least to the center line before I entertain the notion of any short positions, even vertical spreads. Of course if we drop through the lower boundary the jig is up for the bulltards.

UPDATE: 15:00 EDT: Berk here:

Just mentioned this little diddy here to Mole.  Posted it on Saturday, here is the current.

Careful says the fractal...

Careful says the fractal...

All three fractals showed a slight RSI dip in the bottom (no divergence), pushed the lower BB, and met resistance at or above the 1.382 fib extension (1058).  Just a word of warning from the friendly Berk-bear.

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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