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Daily Bars
Prepared by Jamie Saettele, CMT
All you need to know right now about the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is that 9893 defines the trend (above is bullish and below is bearish). This thing is coiled and primed to explode. A drop below would shift focus to the trendline that extends off of the October and February lows (just below 9850) and 100% extension of the 10097-9893 decline at 9835.
Bottom Line (next 5 days) – bottoming?
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele
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Jamie is the author of Sentiment in the Forex Market.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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