USDOLLAR-Be Aware of 11970 and 11909
Chart Prepared by Jamie Saettele, CMT
-The last few USDOLLAR updates noted that “trade since November could form a head and shoulders top or simply consolidation before the next leg higher in the multi-year bull move” and that “the turn lower casts a vote in favor of the head and shoulders top pattern. A break of 12000 is needed in order to complete the pattern.” The index is trading just above 12000 right now (3/8). Focus is lower but be aware of 11970 and/or 11909 for possible support.