Tuesday, August 5, 2008
August 5, 2008; USD/CHF Big Bearish Divergence
The dollar soared last night but not hit my stop loss at 1.0560 and the bearish divergence has really gotten enormous. View the 30 minute chart above and notice that price rallied big yet the MACD and stochastics were making new lows at the times (yellow trendlines on chart). I'm holding short the dollar, I feel the Fed news this morning will result in a dollar selloff.