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Volatility remains high as the US Dollar continues to try and reverse its fortunes

Pierre Charlebois from Trading Metro at 11/30/09


This week saw a sudden turn back towards Dollar strength and a brief flight to safety amid the news out of the middle east regarding Dubai's financial debacle.

It demonstrates how fragile the overall picture is of the world economy. Knowing this, the question is; what event might cause further reaction by investors and traders to run to safety in the USD.

From a technical perspective a common way a long term trend would end is in an Ending Diagonal (wedge). I have included a potential 'Elliott Wave' count on EUR/USD as one possibility of such a hampering.

Of course these counts on shorter term charts are always quite subjective so anything is still possible.


USD Index - Trend-line still holding...

EUR/USD - Is there an ending diagonal forming?

GBP/USD - Top may hold

USD/JPY - Is a bottom forming?

USD/CHF - Reflects the Index

AUD/USD - Channel support broken

NZD/USD - Is there a new channel forming?

USD/CAD - Range narrowing; which way will the break-out be?

EUR/JPY - Will the reversal be significant?

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