US Dollar Outlook - W3 October 2010


    Time to buy dollars?

    Here's a roundup technical analisys about dollar versus 7 major currecies.

    On a daily basis seems that friday we've got a massive dollar short covering; well it's friday and we're at critical level also for usd index.

    On a weekly basis seems that sell pressure on dollar is weakening.

    So it's time to buy dollar?

    Well, on a fundamental basis i think that those are good prices for entering long in USDJPY, UDSCAD and USDCHF.

    Even AUDUSD seems double topping but shorts positions is not so cheap due to interest rates spread (same thing we can say about NZDUSD).

    EUSUSD and GBPUSD are fighting with their psycological level (1,4 and 1,6) and situation is not so clear.

    It's all about dollar.

    You're fighting a heavy trend but a dollar rally could be near especially if algoritmic machines stops selling dollar and buy everything.

    If you want to sell dollar into rallies be careful to choose the right price and use tight stops.

    In my opinion sometimes flat is better...I left you the charts.

    EURUSD

    EURUSD, euro dollar, euro, dollar, cross eurodollar, EUR, USD

    USDJPY

    USDJPY, us dollar, yen, dollar yen, cross dollaryen, USD, JPY

    GBPUSD

    GBPUSD, great british pound, us dollar, pound dollar, cable, USD, GBP

    AUDUSD

    AUDUSD, australian dollar, dollar, australian dollar us dollar, aussie, aussie dollar, USD, AUD

    NZDUSD

    NZDUSD, new zealand dollar, dollar, kiwi dollar, kiwi, new zealand us dollar, USD, NZD

    USDCAD

    USDCAD, dollar, canadian dollar, us dollar, loonie, dollar loonie, cross dollar canadian dollar, USD, CAD

    USDCHF

    USDCHF, dollar, swiss franc, dollar swissy, dollar swiss franc, cross dollar swiss franc, USD, CHF