i’ll be interested to see what happens with the $USD and the EURO in the next few days. US jobless rate numbers easily beat expectations today. doesn’t much help support uncle ben’s case for continued debasement of the $USD via the much anticipated, and widely expected QE3. does the fed start to ease off the gas as the economy improves, hence adding less then the expected (or subtracting) liquidity from the system? who knows? certainly not me. from both a technical perspective (see charts below) and the fundamental reasoning i made above, i wouldn’t be surprised to see so strength in the $USD/weakness in the EURO. if that does play out, will a strengthening dollar be a drag on stock prices as it often has been in the past? regardless which way we go, i will be looking to add some more set-ups over the weekend and if i see anything that stands out today, i’ll post it. daily and 4 hour charts below:
