US Dollar UPDATE 3-month high

  • Posted on: June 27, 2011

Next stop for the US Dollar resistance is at 76.86-77 from April 2010, then the March high at 77.675 and then culminating with the Feb highs at 79.00

For Today, the stock indexes caught a bid, rallying back 150 pts as I write this.

The grains rallied after taking selling pressure overnight.
CZ held support at 6.20 for today. I continue to want to buy Dec on this dip, in front of this USDA number.

November beans moved below 13.00 but rebounded nicely.

Personally, today I bought the dip in corn, but then sold the rally twice, expecting one last run down to the 6.20 area. The old low in CZ at 6.15 may or may not be visited again, depending on what the USDA says.

I put more stock in where Gold settles on Friday , rather than today.
1500 is a key level, which needs to be sold. In my opinion, there is a better risk/reward being short here.

As always, use your protective stops.

That is all.
CER