Two Trend-lines To Watch
- Posted by TheArmoTrader
- on January 29th, 2012
The Dollar and Euro have been moving in opposite directions for the last three weeks. Both have basically been moving in a constant trend; The Dollar has been moving down, while the Euro has been moving up. If the dollar breaks the down trend-line, markets might take notice and start reversing/pulling back. If the Euro is a gauge for risk, a break of that up trend-line (especially with all the Euro news/worries that came out this weekend) could be a signal for risk-off, thus causing a likely pullback in the market. Keep your eye’s on these pair of trend-lines if you have long exposure to the markets.
The Charts
$DX_F Daily
$EURUSD Daily
Tags: $DX_F, $EURUSD, $USDX, $UUP, $FXE, $DXY
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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Jerry Khachoyan is currently an undergraduate student at UCLA pursuing a degree in Political Science. He started trading in September of 2008. He concentrates on using technical analysis and reading the tape to enter the best risk/reward trades. The stock market to him is one of the greatest inventions by man.
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