Watch the US Dollar after BOJ and ECB announcements

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Traders need to watch the US Dollar after today's events at the BOJ and the ECB which will fuel the
inevitable with the USD.

A breakthrough for the US Dollar today past the 83.30 level takes the currency onto 84.00 level which was the high during the summer spike of '12.

The next stop for the dollar is the triple top at 88.00 which is your post-crisis resistance that the dollar should ultimately break.  This movement is consistent with a world where there is deflation, central bank printing that is more egregious than that of the Fed, and moderate growth in the US and nowhere else.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Stocks


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