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TFC Commodity Trading Forum

U.S.$ Index/Breaking out *PIC*

DX is clearing 82 resistance and trashing inverse markets which are most markets since this rally really took off in early May. Price is getting very overbought and needs to hold above 82 to confirm the breakout. A confirmed breakout that holds over 82 would likely see price rally to the Nov/08/Mar/09 and June/10 highs above 89 which trashed most markets all along the way and is major resistance. Meanwhile price is very stretched out and overbought with negative divergences on the oscillators and will need to pullback and reload soon enough. Inverse markets that are presently oversold will rally on that pullback in DX. Note how far away prices on most everything are stretched to the max away from their 20emas. A snap back in most everything is overdue. Expect some 'feel good news' soon.....................