USDOLLAR Rebounds; Internal Channel at Work

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-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.

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