USDOLLAR 20 Day Average Still Capping Gains
Chart Prepared by Jamie Saettele, CMT
-The USDOLLAR index has rebounded from the August 2015 (8/24 specifically) low the last 3 days. This is also the bottom of a downward sloping channel. The manner in which today’s trade unfolded (long lower wick…outside day) indicates support and is promising for formation of at least a near term low. The next step is establishing above the 20 day average, which continues to thwart bulls.
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