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Tuesday, November 10, 2009
Sunday, November 8, 2009
By User: USDX major bottom
Posted By : Akshay Chinchalkar
Hello,
five waves up from the USD Index's major low at 74.94 are indicative of a major bottom for the dollar. If a circled wave 1 is already complete, then the resulting advance in the dollar would lead to a coordinated, and rather devastating leg down for equities, commodities and treasury yields. I would definitely want to be long USD, for we all know what happened the last time we thought the USD was going down the drain. The market is telling us what the optimists would not really like. Should we act now? I say yes. At the least, i know exactly what the stop should be for a rather massive reward.
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