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10/7/2009 12:38:00 PM
Dollar Trend Still Negative

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Despite comments by some of the financial media, technically, there are no signs yet that the dollar is bottoming. Since the March top, the weekly studies have continued to forecast a lower dollar and this is still the case. It would take a two- to three-week dollar rally to suggest a bottom. To get more comments on the dollar and commodities, sign up for this week's Trading Lesson.
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Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com Video Network. He was originally trained as a biochemist but began using his computer expertise to analyze the financial markets in the early 1980s. Mr. Aspray has written widely on technical analysis and has given over 60 presentations around the world. Many of the technical indicators that Mr. Aspray wrote about in the 1980s, such as the MACD, have since gained worldwide acceptance.

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