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US Dollar 7440 Level of Interest Next Week

US Dollar 7440 Level of Interest Next Week

2011-05-20 14:45:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_us_dollar_index_body_usd.png, US Dollar 7440 Level of Interest Next Week

Prepared by Jamie Saettele, CMT

After stalling at resistance from the 4/18 high and 3/7 low, the USD has traded back towards the highs today. Trading above 7600 would shift focus higher in a 3rd wave towards the 2/14 high and 200 day average at 7887-7932. Any weakness should find solid support at 7400/40.

Support/Resistance Index (M,W,D) – 3, 0, (1)

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Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream. A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market.  Send requests to receive his reports via email to jsaettele@dailyfx.com.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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