Strategesis

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Downtrend and down momentum still intact, but approaching key support levels and approaching “oversold” conditions at the same time. Will support hold? Or is the correct interpretation “strongly trending down” instead of “oversold”? If support does not hold, a severe crash in the value of the USD relative to other major currencies is a distinct possibility. If support does hold, the USD could start a major uptrend. The next several quarters will tell the tale.

This entry was posted on 2011-04-16 at 00:40 and is filed under price chart, technical analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.