USDOLLAR Last Gasp Rally; Was that the Top?
Chart Prepared by Jamie Saettele, CMT
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-Last Thursday (1/28), I published a video warning of a bear trap for the USD. In other words, those that were turning bearish on short term weakness were at risk of getting run over BEFORE the real top was in place. The USDOLLAR rallies to new trend highs the next day and has since backed off. The move has the ‘feel’ of a ‘last gasp’. Weakness below the 3 month trendline (red line) would confirm as much.
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