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USDOLLAR MAJOR Topping Pattern Since March 2015

USDOLLAR MAJOR Topping Pattern Since March 2015

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR MAJOR Topping Pattern Since March 2015

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “the USDOLLAR index has retraced half of the January-May decline. Near term pressure is higher while the index is above the 5/26 low of 11921. An area that could cause problems for bulls is roughly 12040/64. This area is defined by the 200 day average and 61.8% retracement of the January-May decline.” The index never made it to the cited area. The sharp decline from well-defined slope is evidence that everything since March 2015 is a topping pattern.

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

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