Here’s a “New Year’s Call” for you

By IBTimes Staff Reporter | December 28 2009 12:56 PM

by Johan Kriek (jkriek@fxinstructor.com)

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First of all, I would like to wish all my students and fellow traders a happy new year!

Now, let’s have a look at what I have found on the DX:

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The falling wedge I have been speaking about the past couple of months has eventually broken to the upside as expected. Now, this breakout gave us a higher significant trough. Look at the chart below:

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And guess what this means?

A new BULL trend. Remember, if you have two higher troughs you already have a bull trend and therefore it seems that the tide of the weak dollar has turned and we might be going into the new year with a Bucky that is jumping like a new born Wildebeest calf

Watch this space..

Enjoy the new YEAR!

Johan Kriek

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