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USDOLLAR Erases Drop from 4/27; Channel Resistance is Higher

USDOLLAR Erases Drop from 4/27; Channel Resistance is Higher

2016-05-10 17:30:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USDOLLAR Erases Drop from 4/27; Channel Resistance is Higher

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Last week’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 and resistance from that channel (as well as a steeper short term channel) is higher.

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

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