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Dollar chart says manage your positions
Bullish scenario is kicking in
With the USD weakness that we have being seeing over the past few weeks, it is a good time to update the monthly and weekly charts on both the main and alternate EW counts on a popular ETF for USD, (UUP).
Since I just updated the DX monthly and weekly charts, thought I would plough ahead and update the ETF UUP as well. Same story, expect a wave (iv) has been set and looking for a new high over that of the early 2017 high in the next 18-24 months.
This is the right area to watch for a bounce in the Dollar and the UUP fund. View the latest chart at See It Market.
The dollar certainly can use a rest but think it unlikely the rise from 2016 is complete. There are two forms a consolidation can take, one being a triangle keeping the dollar in a relatively tight...
March 2017 bulletin from Trading On The Mark