the Shutdown and the US Dollar
my first post was almost two months ago and it concerned the US Dollar: http://bartscharts.com/wp-content/uploads/2013/08/august-20-2013-us-dollar.png and then it was updated: http://bartscharts.com/2013/10/01/dollar-index-done-or-correcting-or-a-little-lower/
we probed the lower level but never quite reached my area that I had been watching for two months as the place to attempt the long on the USD versus either the EURO or the POUND. this am, it is showing some pretty significant strength so this is in alignment w/ my analysis. now put the investment hat on and look for the best area to get long that will manage the risk. with the chaos in DC, this target a little lower could get hit on some surge/spike/rumor/ etc…we’ll just have to wait and see. lastly, look at the 4 hour inverse head and shoulders neckline that is being attacked. Sure looks like the dollar has bottomed …
this is BARTS CHARTS … if they go UP we have more buyers and if they go DOWN we have more sellers. Playing relaxing music and watching the chart instead of listening to the talking head pundits is just easier, don’t you think?
t easier, isn’t it?