[james_gsx]

Alright we have a great DJIA candlestick thread and the CL thread is starting to take off and they are both proving to be very good educational tools.

Unfortunately there is more to trading than the YM, ES, NQ, etc. During the current economic situation I think it is very important to take a look at the whole picture including the USD, Euro, GDP, AUD, etc.

After the latest interest rate drops by the Fed the dollar took a huge hit. We are hitting lows that we haven't tested in over 11 years and things IMO are going to get much worse.

Today I am not including a daily or weekly chart of the USD but a monthly chart. Reason being, I think it's more potent right now. From the swing high/low from roughly 1996 to 2001/2002 our next stop would place the $DXY at 62.. quite the drop from where we are now.

The Euro on the other hand looks strong on a weekly chart. If you are in a long position I see no reason to exit the trade now. We are hitting psychological resistance but I don't believe that will hold for much longer.

P.S - I apologize for the bright Fib colors on the white background, I just did this analysis quickly so I could print it and didn't think about it at the time.