Dollar Bottom?

By | July 2, 2014

There is a lot of talk about the potential for the U.S. dollar to move higher on a strong employment report tomorrow. The weekly chart of the PowerShares US Dollar Bullish Fund (UUP) shows a downtrend line in place for nearly a year that will determine the longer term trend. Note the rudimentary head and shoulders bottom and the reading on the Bollinger bandwidth indicator, suggesting the potential for volatility.

30. UUP Weekly  777 Charts

One thought on “Dollar Bottom?

  1. Pingback: Dollar Fund Testing Resistance | Rightview Trading

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.