Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account

Resources

USDOLLAR Little Changed after Range Day

By , Sr. Technical Strategist
17 July 2013 22:40 GMT

Daily

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Little Changed after Range Day

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader

FOREXAnalysis: The failed run at last week’s low (like EURUSD and the failed run at the high) has me looking higher for at least several days in the USDOLLAR. In fact, a key reversal unfolded today following the lowest close since 6/27. It may be that a triangle or flat pattern is underway from the 7/11 low. Both point higher over the next few days. 10876 is estimated resistance. 10951 is in focus if price breaks the Monday high.

FOREX Trading Strategy: Flat

LEVELS: 10675 10757 10799 10876 10926 10951

--- 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

Subscribe to Jamie Saettele'sdistribution list in order to receive actionable FX trading strategy delivered to your inbox. 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.
Learn forex trading with a free practice account and trading charts from FXCM.

17 July 2013 22:40 GMT