Eurodollars are deposits denominated in US dollars at banks outside the United States, and thus are not under the jurisdiction of the Federal Reserve.
Anyone cares to explain how, basically, the same damn wooden dollars, just tied up to LIBOR rates (which are mediocre now to say the least) keeps going up when suckers dollars (the garbage they pay you and me with) keeps falling?
Anyhow, lately there is a common perception that “market topping, dollar bottoming” – let see different “dollar bottoming” charts.
First -
springheel_jack point of view:
We have stopped at the rising wedge upper trendline rather than the expanding wedge lower trendline. We may well go no further & if so, then USD is bottoming out.”
Next up:
innatedc Today 01:53 PM
dollar taking a peeking out of its groundhog resistance hole here....see if it gets snipped off.....TICK VIX is rising....
Bart7 Today 02:05 PM in reply to innatedc
dollar chomping at the bit today, lot of intraday volatility, looks like a race horse in the gate.... could be near the start of an explosive move
DDT’s poor man’s UUP $DXY substitute chart (damn TOS does not have enough data and my NinjaTrader feed does not have $DXY at all)
So, are we there yet??? Damn close if you ask me
TTD here
Thursday Nov 12th
11/12/2009
Futures approx. BO
Daily Range Projection
Low
High
/ES
1093.50
1105.50
SPX
1096
1107.76
/NQ
1777
1798.25
NDX
1767.19
1788.24
/DX
75.030
75.495
11:33AM EST DDT here
While K. is secretly working on new post, I’d like to offer you great video from
innatedc