Browse Symbol Stacks: UUP: usd.wk

usd.wk

USD weekly is in an ugly pattern that would target 85 if support breaks down.

Comments

DinkDink
Nice chart. Some food for thought though: look at how unbelievably strong the rally was off 80 to 100. Most chart patterns off a major low do a run-pause-run type of move before finally topping (with a rounded top or H&S top). Since this is the first pause after the "run" phase, don't you think it more likely the H&S top formation will turn into a declining bullish wedge instead? Right shoulders of supposed H&S top patterns more often than that turn out to be wedges that form swing lows and then head higher. At least that's my prediction. 6/26/15
NFTRHNFTRH
Anything's possible. See the daily before and the monthly after this chart, also posted to ST. Either way, USD is in a bull market. If this support breaks, there should be a trade that is counter the long-term trends. 6/26/15