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  • $ARKK down to a fresh three month low but finding some support on this confluent fibo level. If the rates theme continues could add more pressure here https://t.co/vfi4AHZKHd
  • tech side of the $USD forecast already starting to fill in with today's bullish breakout 😎 https://t.co/vHVn9WtWKX
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  • Big enough disappointment to heap onto the risk aversion but not bad enough to restart speculation of a delayed November taper from the FOMC. Net net, further bearish pressure on $SPX https://t.co/oprOLVTdQX
  • The $SPX has opened today with its biggest bearish gap since last Monday's tumble. Officially squashes the recovery momentum and now we are more balanced in facing fundamental event risk - bullish or bearish https://t.co/hW5U62hWez
USDOLLAR Median Line Provides Support

USDOLLAR Median Line Provides Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR Median Line Provides Support

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader and see ideas on other USD crosses

-“The last several July’s have been important for USDOLLAR. An important top registered in July 2013. In 2014 (low was June 30th and rally began on 7/2), an important low formed. The index is not at a trend extreme but it is at an important technical level; the 61.8% retracement of the June decline and slope resistance.” The push above the line that extends off of the April-June high negates anything bearish. Watch for support at 11970. A drop below 11918 (treated as the breakout day low) would indicate that this breakout was ‘false’. There is a warning sign from divergence with gold.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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