Wednesday, April 8, 2009

Just couldn't resist!

So much for staying out of the market. I just bought 1 lot USD/YEN. Why?
  • Traders had been taking profits in the Dollar this morning. At the same time the equities were very strong (I did not see the A/D line.) Now, probably because of the Fed minutes, the roles have been reversed.

  • We were just issued a new UP trade triangle for the UUP Dollar ETF...and MClub is uncannily right about these things.

  • If you look at the hourly chart, there are numerous bids being placed at the 99.30 to 99.60 area.

  • The breakout we had the other day was very significant...and is very bullish.

  • The equity markets look poised for a dip, as I showed the other day. That can benefit both the Dollar and the Yen. But against each other, the Dollar is showing a target of 103+. Adam just did another video on this, which I will post soon.

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