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Reuters
Dollar Trade Weighted Long Term Technical Analysis By
Phil Smith |
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Daily
Charts |
Weekly
Charts |
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Longer term (weekly chart). Again
no real change with the technicals still bullish
for the dollar and the MACD pointing to the upside strongly. Also, as
you can see from the third chart the dollar has now pushed through its 200
day Moving Average. The very nice MACD signal to the upside is still in place
following the break up through the down trend-line that has been in place
since Q2. The
Alpha-Beta trend analysis on the second chart has now turned bullish as we
expected. AB usually gives a later signal than the MACD but is a good backup
study for trend change. The
bullish divergence on the Momentum study is backing up the other studies as
I’ve marked on second chart. It has all come together very nicely for this
latest little rally. It’s
interesting how the correlation with stocks has broken down. During the
recovery from last March the negative correlation has been very high but that
has broken down recently. I had been thinking the high negative correlation
would continue and there is a fair chance it will re-establish itself soon.
We need to keep a close eye on it. See the glossary link above for an explanation of the studies used above. |
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Reuters
Market Technicals By
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