Saturday, March 3, 2007

The Dollar

Here's a daily chart

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We're still firmly in a short-term down trend. The 20 day SMA is now below the 50-day SMA, adding another bearish point to the chart. Next week we'll be looking to see if the dollar moves about the short-term trend line or rebounds lower.

Here's the weekly chart:

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Two clear downward sloping trendlines and all three moving averages heading lower. This is a good example of a bear market chart.