Monday, April 20, 2009
3wks later (update)
Longer term, recall 90.02 is the next major serious test and decision point.
(the major 38.2% retracement level, see original post w/ weekly and monthly charts)
On the Hedge Idea of the week, I brought up the UUP wedge breakout (price/rsi) on the 60 min chart)
What I had almost not noticed, if $USD closes above 86.12 it will break out of an ascending triangle on the daily chart as well. Target would be an "estimated" at 90.00 via measurement of the widest portion of the triangle
Looks to me like we might be testing the 38.2% retracement level sooner than later.
Posted by Erik at 12:17 AM