Is the U.S. dollar headed for its 2008 low? “Big money” could be saying yes.

Market Pulse: Mar. 7, 2011

Last week the March 2011 U.S. dollar opened at 77255 and closed down to 76415. Since late-August/early-September 2010, the Fed (Ben himself) started taking an aggressive posture of dropping the dollar. You can see the results for yourself on the daily chart below. Technically you can see the increased OI, a very strong trend with ADX at 52, MACD is bearish and Stochastics are oversold; but with ADX at 52, the market can stay there for some time.

Proceed to Page 2 for the latest COT data...

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