USDOLLAR at Breakdown Line Before FOMC
Chart Prepared by Jamie Saettele, CMT
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“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.”
-“The index surpassed 11900 and nearly reached 12050. Today’s (6/2) sharp reversal could be part of a broader topping process.” USDOLLAR is sitting at a downward sloping line. A break below here would set the stage for a much more important decline. A rebound would face resistance near 11966.
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