Today the US dollar completed a 38% retracement of the 10 month down move, which began last march 2009. The next target is 82 in the dollar index. That would be a 50 percent retracement. Above that we have a 62% retracement at 84.00. Just a heads up. About six weeks ago, in the blog, I wrote that I thought we would see 82. I still like that as a target. This obviously would result in much lower prices for commodities which move inversely with the dollar. A higher dollar makes our crops and stocks more expensive.
Use your stops to limit your loss.
Good Trading
