Monday, August 3, 2009

American Peso

The dollar has completely weaken and broken through any support it once has. 


The chart shows it is now below it's prior support level and nearing 78.00.  It's 3 points from it's lows in 2008.  The dollar has found support for a day or two but then has resumed it's downtrend. Till the market can find some support that last more then two days this market will keep rallying. 
Keep an eye on the 78 level for the dollar, it cannot hold this 76 may be the next stop.