Un-Depreciated
The dollar is selling off after the International Monetary Fund (IMF)
said the US currency could depreciate given the relatively
weaker appearing economy and potential selling of dollars and repatriation
of funds that would result if foreigners discarded American investments.
The euro FX futures
(
ECU1 |
Quote |
Chart |
News |
PowerRating), the leading contract on the Momentum-5
List and the currency most heavily weighted on the dollar index, head
faked lower but exploded after trading above yesterday’s last hour’s range,
the exact trigger of an Off The Blocks
after pop down opening (in an up momentum market). Similarly, Swiss francs
(
SFU1 |
Quote |
Chart |
News |
PowerRating)
powered higher after a lower start and powered higher through their Off The
Blocks entry.
The Japanese yen
(
JYU1 |
Quote |
Chart |
News |
PowerRating), a contract that has recently hit a
six-week high, exploded as the
September dollar index futures
(
DXU1 |
Quote |
Chart |
News |
PowerRating) weakened. The bar it is
leaving is confirming the spike three days ago and suggests additional
upside. The
(
DXU1 |
Quote |
Chart |
News |
PowerRating) is on the
Implosion-5 List.Â
Going in opposite directions,
August lean hogs
(
LHQ1 |
Quote |
Chart |
News |
PowerRating) are making good on their Momentum-5
reading by trading to new highs, while August pork bellies
(
PBQ1 |
Quote |
Chart |
News |
PowerRating)
sink to make good on their
Turtle Soup Plus One
Sell
signal.