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FOREX Technical Analysis: USDOLLAR Trying to Stabilize before Trendline

By , Sr. Technical Strategist
04 December 2012 00:55 GMT

Daily Bars

FOREX_Technical_Analysis_USDOLLAR_Trying_to_Stabilize_before_Trendline_body_usdollar.png, FOREX Technical Analysis: USDOLLAR Trying to Stabilize before Trendline

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The USDOLLAR is testing support from the trendline that extends off of the September and October lows. Additional support is estimated just below the current level from 9945 (Fibonacci) and 9923 (11/7 low). I’m on the lookout for at least an interim (3-5 days) low and return to 10009.

FOREX Trading Strategy: Nothing.

LEVELS: 9891 9923 9945 10009 10044 10071

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele

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04 December 2012 00:55 GMT