US Dollar Gann Angle Trend Study
Price action around the 1x1 Gann angle is always a "determination point". A change in price action towards bearish or bullish 1x1 Gann angles generally always see one side of the trade giving up. Currently, the US dollar is trend determination is getting very interesting.
Cycles for the US Dollar are bullish for 2012, but when does it start still much room for debate.
Cycle Review here: US Dollar cycle review
We all know a higher US dollar is a lower everything else. This means the US dollar is a goto chart, so you had better have the correct technical understanding of what is going on.
1x1 Gann Angle Review of the US Dollar Battle.
NOTE: The last punch on the UUP had very good volume support. This is strength, but will it hold. Has demand over taken supply. Hmmm.
You can use the Gann Angle 1x1 to check your trends, when price fails to break it, a change in trend can be expected. More so those that where disappointed (bulls or bears) may cause a substantial move as they abandon positions aggressively.