October 24, 2011

US Dollar Near 200 SMA

  • US Dollar is about to retest its 200 SMA.
  • Now Price may retest 200 SMA and start moving up to save the golden cross(50 SMA crossing above 200 SMA) that's shown in daily chart. Or a breakdown below 200 SMA which will lead to a failure of this golden cross and dollar may fall towards 73 levels.

ES Resistance levels

  • If ES continues this up move for  some more time it will face the previous support level which was broken in daily time frame. This level shown in first chart may act as resistance.
  • 200 Day SMA is near this resistance line too. So crossing this area will be tough for bulls.