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USDOLLAR – Weekly Wedge Break Could Trigger Freefall

USDOLLAR – Weekly Wedge Break Could Trigger Freefall

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

USDOLLAR – Weekly Wedge Break Could Trigger Freefall

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-On 1/28, I published a video warning of a bear trap in USDOLLAR. 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 rallied to new trend highs the next day and is already at important support (slope that crosses lows throughout 2015 and 200 day average). An important price high is likely in place (see the weekly hanging man candle).

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

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