USDOLLAR Rallies from Support; Watch the 20 Day Average
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USDOLLAR Rallies from Support; Watch the 20 Day Average

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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." This 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. The near term juncture is important as the index has rallied back to the 20 day average. This average has been resistance since 3/10.

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

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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