Yoshaviah Posted December 8, 2002 Report Share Posted December 8, 2002 ". . . the US dollar has a potential Head and Shoulders developing again after its triangular top formation. Should this formation develop and the dollar close below 104 on the US Dollar Index (USDX), a price objective will result slightly above 80 on the Index. . ." - article Link to comment Share on other sites More sharing options...
Jorma Posted December 8, 2002 Report Share Posted December 8, 2002 The dollar is probably the most critical component of the bear case. While intermarket analysis is often a slippery slope the dollar is so closely combined with everything else it seem crucial. The chart isn't pretty. The fundamentals are daunting. What currency is any better? On a sentiment basis nobody expects a strong dollar. That might not mean much because no matter the sentiment, everybody is long. The organized interests looking to support it probably overbalance speculative interests looking to weaken it. I have this nagging hunch that if the attack on Iraq goes well, as defined by the image makers, that the dollar may go up. Link to comment Share on other sites More sharing options...
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