Is the US$ really going to go all the way down?
There is an indicator ADX or DMI, I am still learning but looks like US$ might be changing direction soon. The blue line DMI + is trending up for a month and it is touching the DMI -, if there is a cross over, then it is bullish for DXY which is the US$.
If that happened, materials & commodities (gold & oil) will fall.
But if DXY unable to breakup (> $76.60, $77.35), then other wise will happen.
Please look at ADX, MACD, RSI & Stochastic indicators.
Checkup Kenny's Blog for detail on DXY/US$ chart movement.
Do watch the KBE too? It is going to hit the long term resistance line?
If it unable to breakup, then it will going down (I guess).
ADX +DI is trending down and if -DI tread upwards and make a crossover, KBE is heading down.
Saturday, October 10, 2009
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