UUP US Dollar Bullish ETF Daily Chart

UUP dollar bullish ETF chart shows the positive divergence bounces which are helping price build a strong base. Rumors of the dollars demise are greatly exaggerated. Trichet holds the cards. A euro rate hike will further weaken the dollar but if Trichet balks and does not raise, the euro will fall and the dollar index, and UUP, will run upwards. Price will stay responsive to the 21.7 gap fill below, as well as 21.6 which would kick in official positive divergence like the blue and red lines.

If Trichet raises as expected, the gap at 21.7 will fill and a look at 21.6 or lower may be explored, but the chart is basing to move up later. If Trichet balks and does not raise rates Thursday, then the 21.9 level will be tested and broken thru to the upside in quick order. The markets are waiting for Trichet's decision. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.