US Dollar Bumping Against Resistance

November 17th, 2012
in contributors, forex

by Zentrader

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Today’s chart of the day (14 November 2012) from All About Trends is NYSE:UUP which we’ll use as the proxy for the US Dollar.

Follow up:

Click on image to enlarge

11-14 We used to say dollar up-markets down, dollar down-markets up was all the rage and it still looks that way here, but see the USD? It’s bumping up against a resistance zone, the 200 day average and overbought. Should the Dollar pullback, we’ll see if the dollar down-markets up is still in play.

Click on image to enlarge

Long Term View

Click on image to enlarge

Editor's note: This was written 14 November 2012.  UUP has remained right at resistance and closed Friday 16 November at 22.24, just 0.04 (0.18%) above the close 14 November.


Zentrader started out in July 2008 as a way for me to share my nightly research, provide trade ideas, and keep a trading journal that kept me accountable and systematic in my trading. This experience has been good to me as I have built invaluable long-standing relationships. It’s also been therapeutic for me by helping me organize my thoughts, and I’m finding the longer I trade the markets, the more ways I need to detach myself emotionally and relax my mind as the internet’s ability to deliver endless information can be a blessing and a curse to a trader. I believe that to have longevity with investing, one must find ways to calm the mind and trade from a detached point of view.

As this site is nearing it’s 4th year of daily updates it’s worth noting that there are many different voices that contribute to the Zentrader identity. This is no longer a space where it’s just my opinion of what the market is doing and the stocks/sectors that I’m focusing on as it is a place where my peers in the trading community can come together and share their unique insights in whatever field they have chosen to specialize in. This has always been my plan all along to build a community of alternate investing styles and engaging personalities that come together with the one goal of helping everyone more successful in trading.

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