Reply #23: daily dollar watch

[UpInArms]

http://quotes.ino.com/chart/?s=NYBOT_DX

Last trade 90.51 Change +0.03 (+0.03%)

Dollar Bulls Prepare For Volatility

http://www.dailyfx.com/story/dailyfx_reports/daily_technicals/7215_dollar_bulls_prepare_for.html

EUR/USD – Euro bulls managed to push the pair above the 1.1900 figure as EUR/USD stalled above 1.1864, a level marked by the 23.6 Fib of the 1.2588-1.1639 USD rally. As dollar bulls consolidate their gains and once again push the pair below 1.1900 figure, a move below 1.1864 level, will most likely see the pair head lower and target euro bids around 1.1778, a level marked by the December 30 daily low, and with sustained momentum most likely seeing the EUR/USD decline toward 1.1704, a level defended by the December 7 daily low. A further collapse of the single currency defenses will most likely see the pair decline toward 1.1639, a level established by the 2005 Low, and acts as a gateway toward the next psychologically important 1.1500 handle. Indicators are mixed with positive momentum indicator diverging from negative MACD below the zero line, while neutral oscillators give either side enough room to maneuver.

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USD/JPY – Japanese Yen longs managed to push the pair below 1118.00 figure as greenback longs remained in charge of the bids around 117.38, a level established by the 23.6 Fib of the 104.16-121.46 USD rally and is further reinforced by the 20-day SMA. As dollar longs regroup and launch another counteroffensive a further move on the part of the greenback longs will most likely see the USD/JPY head higher and with a move above the 118.00-119.00 zone target the yen offers around 119.36, a level defended by the February 3 daily high. A sustained momentum on the part of the greenback bulls will most likely see the dollar bulls push the pair toward the psychologically important 120.00 handle and with confirmed breakout seeing dollar bulls target 120.46, a level marked by the December 13 daily high. A further advance on the part of the dollar trader will most likely see the Japanese yen longs retreat toward 121.39, a level defended by the 2005 High. Indicators are favoring Japanese yen longs with both negative momentum indicator and MACD treading below the zero line, while oversold Stochastic gives dollar longs a chance for a extend their rally.

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