50% Left To Go For The Dollar

The US Dollar ($USDX) today skyrocketed and hit the highest levels seen since January of this year.  With today’s move, the dollar puts itself above the 50% Fibonocci Retracement from the 2010 high of $88.71 AND right at the 50% Fib Retracement from the 2009 high of $89.62. The two charts below show these retracements.

With the Euro crashing, the dollar might see a bigger move up to the 61.8 retrace around ~82.50. If it does, it can seriously put a lid on any potential rally the market might have.

2010 Fib Retrace


















2009 Fib Retrace



















The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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