USD US Dollar Daily Chart Inverted H&S

Watch for price to break out and above the inverted H&S neckline at 76 leading to 79. Chart is very constructive for the upside. Price now above the MA's, bullish. We see in the days ahead if the dollar is finally ready to make its upside move. Projections are 75, 76 and higher. 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 financial advisor before making any investment decision.

Note Added 9/6/11 at 6:10 PM EST:  Another prescient chart. Latest dollar print is 75.92, a hair away from 76. Thus, price moves up to test the inverted H&S neckline at 76. Similar to the euro and 10-year charts, patience is required for the days ahead, perhaps for the month of September. Even when the neck line is ruptured above 76, a back kiss is typically in order before the dollar takes off solidly to the upside. The move upwards in the dollar will be interesting to watch since it will help forecast when Chairman Bernanke will step in with QE3.  The coming dark deflation fears will contrast the bright colored Autumn leaves.