Nov 19, 2004

Dollar positions

Keep in mind if you are short the dollar here that:

  1. It is extremely oversold.
  2. The DXY came very close to a key reversal day yesterday. It traded a lower low and reversed to a higher high but closed inside Wednesday's range.
  3. The APEC meetings will provide an opportunity for everyone and their mom to weigh in on how horrible the dollar sell off has been for their country.
  4. The March low in the the JPY is 103.42
  5. Other trends of the last couple weeks appear to be hitting a turning point. The OSX put in a strong day Thusday while momentum seems to be failing in the SPX.

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