USD

Short-term Analysis : I view the current price action of the US dollar index as a variation of a potential bullish flag which if broken to the upside will portend some bullish continuation ahead. Flags occur at half mast meaning in the middle of the rally. A projection of the previous up leg projects the objective at 85.0 which coincides with last june resistance level. If this scenario is indeed unfolding, then it bodes ill for commodities , equities, currencies such as the euro and treasuries. A break of last support at 78.50 would invalidate this bullish scenario.

see the chart at :http://globaltechnicals.typepad.com/blog/2011/01/us-dollar-index-continuation-of-the-uptrend-very-likely-.html

hey daveo,i think i understand what ur saying..now if i look @weekly chart i see upward trend is intact over a longer period but as i work down to hourly charts the short term tells me pull back with tech patterns like double top..let me know what ya think lol an thanks:)

said, alternate count:- 5 waves up from June low to 8th Aug high = Wave A,
Complex corrective down to 24th Aug low = Wave B,
5 Waves up to the 4th Nov high = Wave C. Implications we go to new lows below 1.1875.

The potential ABC had C wave reversing at between the 100% and 127% symmetry with wave A.
move below the potentail Wave B low at 1.2586 would confirm but first we would need to break below the 1.2968 pivot low.

i reckon the euro is going parity

eurusd will find support around the 130.786; if it breaks below then the next level are 126/125.
from the 19oct to 04 nov notice that the previous pattern is a three wave corrective and the following one is a 5 wave down. from the 17nov to 14dec we also encountered a 3 wave pattern
the 5 impulsive down indicate that eurusd is posed to correct for short term only
the objectif on eurusd of 1.50 is viable.