Thursday, May 5, 2011

The weekly dollar chart

The weekly Dollar chart is in a down channel, we touched channel support at 72.70, right at the 5/3and this weekly Apex CIT,  but only a rally above 75 is short term bullish.

We are approaching Long term support at the 3/17/08 Lows at 70.70.

1 comment:

Big Bang said...

Hi Raj.

I was also wondering how your cycle analysis interpreted this rise in the dollar on a weekly basis. If this is a CIT week and the dollar has a weekly green close, do you consider that a weekly top or a weekly bottom?

Thanks. Sorry about all the questions. Getting acquainted with your CIT analysis.