December 28, 2010

Triangle Pattern of US Dollar

  • Daily chart of US Dollar shows price consolidation in a triangle pattern.
  • Price has been moving between 79 and 80 for sometime now. 
  • The 50 DMA looks flat it shows no trend at the moment.
  • So USD may move sideways till this triangle is resolved.
  • For now it may move towards the lower 80 levels near 50 DMA.

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