UUP US Dollar Bullish ETF Weekly Chart Oversold Falling Wedge Positive Divergence

UUP dollar bullish ETF weekly chart shows a couple of falling wedges. Along with the oversold conditions and positive divergence, price should bounce nicely in here. Add in that everybody and his bro feel the dollar is now hopelessly past any sings of recovery, makes for an attractive contrarian investment.

Trichet's rate hike is in the bag now so all that euro buoyancy can retrace which will help the dollar as well. This dollar ETF chart is basing and the lone voice in the wilderness says time for price to go up for a sustained and constructive move north. Those traders entering now should be rewarded. 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.