Wednesday, September 23, 2009

Dollar Index

DX Daily Chart

Daily chart indicates that the downward movement may accelerate.

DX Weekly Chart

At (or almost - depending on RSI or Stochastic) oversold. A break of 76 means a possible visit to 72.

Implications of a dropping dollar: an inflation of asset prices.

USDMYR Weekly Chart

Looks like it has broken a H&S formation. Hurray for companies with large foreign debt (i.e. Tenaga and IOICorp)

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