Wednesday, 4 August 2010

14:05 BST - Dollar Update

The dollar would look best with one more slight new low, I think, though its not impossible that it bottomed at yesterday's 80.469 low as shown in the alternate on this 60 min chart:

Dollar Index 60 min - close up from wave [iv] of C high:

You can see the bigger picture on the first chart in my post yesterday which shows the whole of the move down from the 7 June high. 

Until we see an impulsive rally, as explained in yesterday's post, the trend remains down.