USDOLLAR Slope Comes to the Rescue
Chart Prepared by Jamie Saettele, CMT
-“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.”
-The USDOLLAR dropped sharply into a line that has been support at many important lows since the all-time low in 2011. Failure to hold here opens up 11550.