This USD rally has been pretty stealth and rightly so, as it has been quite unimpressive. The big picture - as represented by the monthly chart I posted earlier this month - is very bearish. But this short term view of the Dollar shows some mixed messages; on the one hand momo indicators show a downturn from normal topping areas and the ROC has a negative divergence. On the other hand the standard STOCH is just turning up into the important 20+ area and the trend by AROON remains positive. MACD needs to hold the zero level and turn up and then maybe we will see the long awaited test of the 75 area resistance. The commodity trade hangs in the balance. All I am saying is that the Dollar, while not looking very impressive, is not necessarily done yet on the upside.Separately, I think I am going to stop posting the COW because it is just so much easier producing and writing about charts here. I can't remember if I mentioned it but one of the reasons I shut down the blog earlier this year was that it got so popular that it began cannibalizing the website. The site has some great work from other analysts and commentators as well as some stuff by me, but I guess people liked the immediacy and/or intimacy of what went on here. So be it. Busy as I am, I need easy right now and this is much easier. But do visit the site - especially the News & Analysis page because we do have a couple great writers you are not going to find elsewhere.
