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The Dollar Remains Key

Takeaway: It doesn't look like the U.S. is turning Venezuelan this week. Phew.

Trick or treat? TREND or TAIL?

The Dollar's long-term TAIL support line of $79.21 was recovered. That’s good. It means we won’t look like Venezuela this week. Phew.

But the TREND resistance remains overhead at 80.16. So, unless you’re a long-term holder of dollars, you want to wait and watch on this thing. Pimco's Bill Gross begging for higher taxes this morning? Yuck. The Dollar Devaluation and Bond Bull Lobby is coming on thick.

The Dollar Remains Key - drake1