The dollar is very much in the news these days and it should be. We once again tested the key 80/81 level, an event that occurred in 1998, 2004 and this year. The monthly chart over those nine years tells us that there is a concerted effort to hold this level. Triple bottoms rarely hold, but this is a currency so stay tuned.
A look at the TNX (10 year treasury note) monthly chart also shows yields at key support. The channel held up this month, but 45.75 is now the line in the sand. A break of that level could set up a test of 4% in the coming twelve months.
This entry was posted
on Saturday, August 25, 2007 at 8/25/2007 08:01:00 PM.
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