U.S. Dollar Index (UUP) Weakness: Part 1 Of 2

29 0 5
The USD looks weak after a long uptrend. Using UUP             as a proxy for U.S. Dollar strength or weakness, the chart above has a decided negative trend. Note: The UUP             underlying currencies are Euro             , Japanese Yen             , British Pound, Canadian Dollar             , Swedish Krona             and Swiss Franc             . As for UUP: To help you understand why I feel prices are going lower, here they are, "Don's Top Ten Technicals": 1. The Ichimoku Cloud is FALLING relative to structure to the left. 2. Prices are trading BELOW the cloud. 3. Prices are trading WAY BELOW the thick red Ichimoku Cloud Conversion line. 4. The thick red conversion line is moving LOWER. 5. The thick black line is the Ki jun-Sen baseline of the Ichimoku Cloud and this is HEADING DOWN. 6. The indicator on the top of the page is RSI / Stochastic , and this is weak as the price trend sinks. 7. The top-side middle indicator is vortex and this is NEGATIVE (red over green). 8. The Top (bar-type) indicator measures the "phase energy" of UUP             , and this is VERY WEAK. 9. The red fractal arrows are DOWN. 10. Look to the far lower right on the chart, around $24.80, by the large red arrow. You will notice a yellowish line on the bottom (jaws), with black dots above (teeth), and a blue line (jaw) above the black dots. Now, all three are WIDE OPEN, correct? This is where I ask you to use your imagination and envision these three items as the "jaws of a FEEDING alligator , and the alligator will feed in a down-trend". This is a negative indication and suggests lower prices. I believe UUP             will continue to go lower until the confluence of technicals tells me differently. This is Part 1 of 2 in this series. Part 2 is the inverse chart for UUP             and this is UDN             (which will rise as the USD falls). I hope this has been entertaining and informative. Yours for better trading, Don.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out