USDOLLAR Outsized Move Still Respects Channel
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“USDOLLAR resistance is seen from sliding parallels (and maybe the upper parallel…which hasn’t been touched yet), from about 12125 to 12200 the rest of this week. Notice how a sliding parallel also identified the February low.” The high last week was on an upper parallel and the crash low was at channel support. Bottom line – follow the channel!