US Dollar Bumping Against Resistance

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.

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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.

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Long Term View

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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.

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