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Spot on 200 DMA Breeds Currency Opportunity

05/20/09 Baltimore, Maryland Keep an eye on 200-day moving averages in the currency world. Sometimes these technical indicators don’t mean squat… but they’ve been pretty spot on lately.

Early this month, the dollar index fell below its 200 DMA for the first time since July 2008, and has been falling ever since. Not long after, the euro popped above its 200 DMA, and has rallied 2 cents since.

Today, history looks poised to rhyme… if not repeat:

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If the pound goes the way of the dollar and euro, $1.555 is the price to watch.

Author Image for Ian Mathias

Ian Mathias

Ian Mathias is managing editor of The 5 Min. Forecast.  We discovered Ian working as a full time rock climbing guide and writing on the side. As it turns out, markets and global economics can be extreme too… at least enough to keep him around. Since working for Agora Financial, respected media outlets including Forbes.com, the Associated Press, Yahoo, and MSN Money have syndicated his writing. He received his BA from Loyola College in Maryland and is currently studying writing at the graduate level.

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