The dollar is seeing a bounce here for a few reason, investors are moving into dollars as the safe currency as Euro continues to suck but more importantly the dollar is bouncing off a short-term uptrend and nearing its apex of wedge pattern.  A break of this wedge pattern means that DX and the dollar will continue to trend upwards as it has since last May. DX or the dollar index has fallen over the last week after hitting resistance at 80.20.  It found support at the bottom of the triangle pattern.  The dollar is one up today as it bounces off this level and looks to move upwards to break its wedge pattern. In order for the dollar to do this, it first must break horizontal resistance levels, the first being 79.90.  This level is a physiological level and there is price resistance, it is not clean but it is there.  The second most important level is 80.28.  This has capped any upwards price movement for the dollar for the year.  It did break above it for 2 days in March.  A break of this level would mean DX broke through strong resistance and broke out of its wedge pattern. The [...]

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