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USDOLLAR Recent Triangle Resistance Provides Support

USDOLLAR Recent Triangle Resistance Provides Support

Jamie Saettele, CMT, Sr. Technical Strategist


USDOLLAR Recent Triangle Resistance Provides Support

Chart Prepared by Jamie Saettele, CMT

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

-The USD drop ended up finding support from former triangle resistance (line that extends off of the April and September highs…the line was resistance in October). Resistance turned support is bullish so a constructive view is appropriate as long as last week’s low is in place. A drop below would shift focus to long term slope that was support in May, August, and October. If THAT breaks, then the bull has left the building.

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

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