Tuesday, June 16, 2009
USD Really Going Up in June 2009?
After checking the charts, the United States Dollar seems to be growing strong in June 2009. The previous months’ news all predicted a major downfall but the currency pair charts seem to tell a different story. By looking at the daily charts, I could see reversal patterns:
1. GBPUSD : double tops
2. EURUSD : head and shoulders
3. NZDUSD : trendline break
4. USDCHF : trendline break
5. USDSGD : trendline break
6. AUDUSD : double tops
President Obama could be working his magic. Although the Australian Dollar and Great Britain Pound are still strong, the Greenback looks like it is pushing through and trying to turn GBPUSD and AUDUSD around. I predict that we will see the final outcome of this confrontation late June 2009 or early July 2009.
Interesting…
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