USDOLLAR Fails at Wedge Resistance for 6th Time Since June

Daily

Chart Prepared by Jamie Saettele, CMT

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

-The USDOLLAR has pulled back from wedge resistance for the 6th time since June. The response at the wedge line certainly deserves bearish consideration. Previous longer term comments are worth keeping in mind; “the index is currently unchanged for October. In other words, a monthly doji is a possibility. August was a monthly doji and September was a hanging man. Candle patterns are warnings, not signals but the enormity of the situation warrants one’s attention.”

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