The Dollar Rally Per Dollar Index


Any intraday trader will tell you there has been some volatility in the markets as of late.  I trade FX & I feel like I have seen it all past 2 weeks, slight whipsaws, screw trades (that’s why we have stops), technical step backs, geopolitical concerns.

If you look at things from a far, the big picture with the US dollar, you will notice strength since December.

In the next couple of days, I would like to see some consolidation before making a further move up north.
I identified some support levels & did a Fibonacci retracement from March 2009 highs to December 2009 lows.

  • Fibonacci 38.2: 80.10 (past it 2/8, touched it at today’s bottom)
  • Support: 81.00
  • Fibonacci 50.0: 81.91
  • Support: 82.70

It also looks like we are in a “C wave” in the Elliott Wave.

  • Wave A: First leg up from beginning of December – end of December
  • Wave B: Retrace from end of December – mid-January
  • Wave C: Mid January to present

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About Clair Wyant

I am a foreign exchange & stock/ETF trader in Boston, MA. This blog will be dedicated to my out look in the economy, the financial markets, with an emphasis in foreign exchange. When I am not working, I enjoy watching sports, participating in recreational sports leagues, travel & spend good times with my friends.
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