Monday, May 14, 2012

Shanky Does the Dollar

Dollar Monthly - The range from $80 to $81 is key. Note that from 1992 thru 2007 the dollar stayed above this point. Now price is wedging (green) with that level at the heart of the wedge.

Dollar  - The green wedge from 2004. This is your operable range. Note the violent monthly candles the past two times this level was broken and the violent reversals that soon followed. If the channel works, $87 would be the target in late summer.

Dollar Daily - The channel off LT green diagonal support running onto $80 resistance area.

Dollar 60m - After near term (green) diagonal breakout (see above) bouncing off yellow and blue channel support the dollar has been channeling into $80 resistance

GL and GB!

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