Bottom Formation for Dollar?

The next few days of action for the dollar index and the PowerShares DB US Dollar Bull ETF (NYSE: UUP) will be critical to the near- as well as medium-term technical outlook. The ability of the dollar to climb back towards a test of key resistance at 79.50 and 27.70/75 will tell us that the dollar in fact is “using” the month of August to create a significant bottom formation.

  Matched “”
x
Take Advantage Of Our Free
7-Day Trial, $71st Month Offer!
  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!