UUP trade ideas
FOMC already kick off the bullish reboundsee the chart, it will go straightforward to 24.40, then will have a 0.382 back-trace, at last ,it will go to 25
$UUP possible rebound from 23.96, Gann's Support 0-Degree $UUP possible rebound from 23.96, Gann Support 0-Degree
Dollar due for technical bounceDollar in oversold region in Weekly Charts (RSI @27) and near long term trendline support. Going Long for 4-5% bounce.
US Dollar Is In A Corrective Wave For NowTarget the bottom of the horizontal channel between $24.25-24.50
UUP currency tail wind still has legsSure looking like dollar weakness is still in the cards. Still a positive scenario for commodities in general.
USD UUP ETF Bear Signal intactBear Signal at 25.61 intact.
Breaking lower.
Stop lowered to 25.50.
Poised for further losses as studies and sentiment continue to weaken.
Any break above 25.44 to remain limited.
UUP- Dollar is under pressure with all the Euro strength hereDollar should be catching traction soon. So far this move lower is good for multinational companies. Also good for Travel and the consumers buying power.
