Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The outside day Monday and inside day Tuesday provides a reference point for the next move. A drop below Monday’s low would signal downside pressures towards former resistance at 10343/55 and probably the 20 day average (currently near 10300). Exceeding 10444 would probably signal a terminal thrust from a triangle with objectives at 10493 and 10523.
FOREX Trading Strategy: Flat
LEVELS: 10274 10308 10364 10444 10493 10523
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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Jamie is the author of Sentiment in the Forex Market.