La Croix Energy Capital | Petroleum Derivative Trading

“Think like a fundamentalist; trade like a chartist.”
Dennis Gartman. Rule #8 - Gartman’s Simple Rules of Trading

Thursday, February 18, 2010

USDX 50 SMA v. 200 SMA Update

The USDX 50 Simple Moving Average (SMA) is now 0.002 below it's 200 SMA. US Fed discussions regarding shrinking their balance sheet and recent weakness in the EURO have been supportive for the USD. A breakout above ~80.8 would be bullish for the dollar. Technically, the USDX has moved out of an overbought condition.