US Dollar-Poised to breakout above 10 year downtrend line
Courtesy of Oracle Trading Systems…
Once trends in currencies develop they tend to trend for a long time. As evidenced by the long term chart above the Dollar has been trending below red line (C) for over 10 years. There were 3 major failed breakout attempts at the declining red line(C) since 2005 and it’s trying again for the 4th time. As you can see in the top momentum chart with each failed breakout attempt it was accompanied by extreme overbought conditions(red circles) such as right now. A clean breakout above red line (C) could signal a set-up for an upmove to its next green line resistance level(B). A breakout above this important resistance level(B) would could give the go ahead for a continued rally to its blue line price target (A) or 98. Is it possible? In 2002 not many currency experts expected the dollar then at 120 to drop all the way to 71.25 in mid 2008.
off topic:
I wonder if Tesla will be using the new Siemens technology in its new factory:
http://www.siemens.com/innovation/en/news/2014/e_inno_1422_1.htm
Just a question – uptrend against what? A bunch of heavily printed and troubling fiat? The bar is not very high I guess. Every one of those are in trouble, maybe even my currency CDN$. I see price going up quick here too.
“…could give the go ahead for a continued rally
to its blue line price target (A) or 98. ”
This would close the 94-95 gap.
http://www.trunews.com/breaking-oklahoma-city-woman-beheaded/
I thought it might be a few more months before this happened.
Of course expect the politically-correct media to take any reference to Islam out of the coverage.
http://kfor.com/2014/09/25/reports-police-respond-to-possible-shooting-near-moore-grocery-store/
More details on OK beheading.
Meanwhile in the Islamic State:
http://freebeacon.com/national-security/canadian-isil-member-says-attacks-coming-to-new-york-soon/
I wonder why Islam is called the religion of Peace.
At least this ISIL member demonstrated his stupidity by burning his passport:
The above youtube was a Canadiab Jihadist recorded on Sept 23.
Here’s an American Jihadist:
In my opinion; the only good Jihadi is a dead Jihadi. They want to be with Allah; let’s help them get there.
CFS …I have a feeling “ALLAH”…(if he / it ) exists will not welcome these murdering scum , with open arms…..The same way “GOD” wont welcome the murdering scum politicians & bankers when they turn up on his doorstep.
Since Allah, is from the MOON GOD, ……..does that have anything to do with…”.TO THE MOON”………………………………..je he he …
Jerry, Irish Tony needs to lighten up like he was before, life is only worth living if you can laugh at the tragedies.
http://stockcharts.com/h-sc/ui?s=$USD&p=D&yr=3&mn=8&dy=0&id=p27884990434&a=361864899&listNum=1