Given the moves over the last few days, it looks like the dollar may have the strength to keep the move on in the weeks ahead. The fundamentals aren’t there to create the technical moves yet, but it seems to be coming along.  The low today so far, 1.4776 tested the low of the last bar before the ride to the top started. If/when this point breaks the flood gates have opened to take out 1.4360.

The 1.4360 area is the base of the last consolidation before the push to all time highs and also happens to be the 38.2% retracement level of the move from mid 2005 to the all time high. If this happens with any significant downgrade in the EZ economy and any strength in the US economy then the 50% level and the 61.8% level will almost certainly break. Let see how this develops.

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