Dollar Surges as Stocks Fall

02/17/2009 2:13 pm EST

Focus: FOREX

Thomas Aspray

, Professional Trader & Analyst

chart

The sharp decline in the overseas markets, and then in the US stock markets, have coincided with a sharp rally in the dollar. As the chart shows, the EUR/USD has broken through trend line support in the 1.2700 area. There is next support at last fall's lows in the 1.2330 area, with resistance now strong in the 1.27-1.2800 area.

Related Articles on FOREX

Keyword Image
The Fabulous Shrinking Renminbi
09/27/2017 1:13 pm EST

As of August 2015, renminbi (RMB) in payments globally accounted for 2.8 percent of the total, the f...