Friday, June 17, 2011

Current Dollar Projection

Looking at two different scenarios with the US Dollar right now we failed at the upper trend line (1) and pulled back to the 20ema (2). Could go either way currently we will have major events out of Greece on Sunday which should pick direction in the euro and thus the dollar as well. My first instinct is that we will break current support (3) and fall to support at 74.20 (4).Really would be surprised if they just allowed Greece to default this all will likely pass as it did last summer as the can gets kicked further down the road.

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