AUTOREFRESH 
Markets stabilizing; USD dipping
By Jamie Coleman || June 5, 2009 at 15:10 GMT
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EUR/USD is recovering, back to 1.4032, as equity prices and commodities turn positive on the session again. The unemployment report continues to be chewed over by the market several hours later, an unusual situation, to say he least. The debate will have fewer participants than normal this afternoon with many players having already been chewed up and spit out by the market this morning. Look for 1.4070 to contian rallies in EUR/USD near-term.
Jamie, looks like the bearish trend in the Dollar Index has ended now being above the 8-day moving average, at 79.70. We have rebounded quite nicely from near the 62% retracement of the 2008-09 rally, at 77.93.
All of this looks like a bullish signal and a preliminary indication that a major correction has been completed. As the dip in December also found support near this area it makes it even more important. Not to mention the cycle gurus… ; )