Thursday, April 28, 2011

That DXY Trade You Say?

Back 10 days ago, the DXY (USD index) made a false break up above resistance, only to be pulled back the next day.  That weakness has continued as the markets in general head for the moon.  The dollar weakness has been the exception - which has continued almost in freefall with the current low @ 72.87.  Entry for shorting the dollar for me came @ 74.25, taking 1/3 position out @ 73.25, 2/3 position remaining with trailing stop @73.55.  I will continue to hold this position, and as always watching and learning.

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