USDOLLAR Trades into Month Open Price
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“A double top target remains at 10623 and today’s (5/5) reversal at the breakdown level from that pattern is viewed in a bearish light. The 1/15 low at 10584 is also of interest for support.” The low for the move is thus far 11634. It’s interesting to note that USDOLLAR has made turns in the middle of the month each month so far in 2015. With that in mind, this rally may have legs for at least 11900s before coming under significant pressure. Watch 11740 or so for support.