USDOLLAR Rebounds; Internal Channel at Work
Chart Prepared by Jamie Saettele, CMT
-The last update noted that “the constructive trade is ‘no longer’ following today’s (4/28) drop. Again, the market does need to establish above the 20 day average in order to indicate a bullish opportunity.” Today’s sharp reversal could be the beginning of a bigger rally but it’s too early to tell. Either way, an internal channel is influencing on both sides of the market.