Trend line support has held this week for the USDX and trading has turned higher this AM for the USD. A cross of the 50 SMA above the 200 SMA will be viewed as a confirmation of a reversal of the broad bear trend in the dollar for technical driven traders specifically and for dollar market sentiment generally. Risk is for increased support for the upside, indicating downside risk for equities and commodities.Friday, February 12, 2010
USDX 50 SMA v. 200 SMA
Trend line support has held this week for the USDX and trading has turned higher this AM for the USD. A cross of the 50 SMA above the 200 SMA will be viewed as a confirmation of a reversal of the broad bear trend in the dollar for technical driven traders specifically and for dollar market sentiment generally. Risk is for increased support for the upside, indicating downside risk for equities and commodities.