U.S. Dollar dips, gives fresh Signal

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The U.S. Dollar Index slid sharply today (9/13) as the rally in global equity markets seems to have added bearish pressure to the U.S. dollar. The trend is down and I am now receiving a sell signal on the daily chart. The trend for the U.S. dollar is also down on the weekly chart. In juxtaposition the euro currency, typically oppositely correlated to the U.S. dollar, has changed trends to the upside. Furthermore the Japanese Yen and the Canadian Dollar, both markets which usually rally as the U.S. dollar drops, are giving me fresh buy signals on the daily chart. A close below today's low will suggest to me that the U.S. Dollar is in a long-term downward trend. SEE CHART Call me for trade set-ups at (312) 277-0112 or toll free at 888-281-4161 or email: LBaer@Zaner.com For intraday updates follow me on Twitter: @LarryBaerTrader FREE subscription to my charts and set-ups newsletter: http://www.zaner.com/3.0/lbaer2.asp Larry Baer's Options & Futures Trading Strategies: http://larrybaertrader.wordpress.com./
Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.