Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) low is on the first day of the month thus a more bullish outcome should be respected as long as price is above that level (9901). I wrote yesterday that “an intraday plot reveals the corrective nature of the decline.” Price has turned up, suggesting that we are on the right track.
FOREX Trading Strategy: Continue looking higher towards new highs.
LEVELS: 9935 9961 9991 10044 10071 10100
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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