bentzalah
Long

ETF DOLLAR INDEX UP TREND

AMEX:UUP   INVESCO DB USD INDEX BULLISH FUND ETF
hi, the ETF DOLLAR index seems to gain some "power" lately and my opinion it's gonna continue for a couple of months ahead. form the boginning of 2017 the trend is clearly DOWN and on the weekly chart it's more clear for this trend and ad you can see there are 5 waves till the beginning of 2018, the last wave (5) it's with positive divergence ( MACD ) which indicates that exhaustion for this formation it's gonna end . if it won't break this low the trend up can be till 24.75 where the 0.5 fibo located (between 0.32 to 0.68) also consider that on the way it's gonna test the MA 200 ( EMA ) (now 24.38) if break it'll go higher to the level i've mentioned
according to time calculate with fibo as well i assume it's somewhere on dec 2018 (consider that the fed says it's gonna rais interest 3 times this year, or maybe not depend on the economy and how the stock marker react) .
good trading and know your levels .
ben .
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