USDOLLAR Outsized Move Still Respects Channel

Daily

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-“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!