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US chart

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JDT
Regular Contributor
Who thinks the ascending triangle on the DOW (daily chart) will break out upwards - since it's generally regarded as a continuation pattern?
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4 REPLIES 4
Jobarshares
Contributor
Yes, it seems like a bit of a triangle. It does have an upward support line it keeps on bouncing, but there still is a huge head and shoulders it needs to get rid of. It might just be starting to climb, it seems like the Dollar has some fire underneath it.
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Electrox
Super Contributor
If you look at the most previous acending Trinagle on the dow starting from the 22nd JAN 08, we did break out upwards but only rallied 400+ points from the to fall to where where are now.
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Not applicable
10 690 is the key. Turned @ 689....unbelievable!!!
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_nova
Super Contributor
EURUSD also shows a double top (mid Apr and Jul) with the pivot low at 1.5285. In this session so far the USD has strengthened and trading tight around 1.5165. If this thing get's momentum then we'll see 1.4300 in short order. Question is, what will a strong greenback's impact be on us?
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