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US Dollar 7496 Serves as Pivot

US Dollar 7496 Serves as Pivot

2011-05-24 12:45:00
Jamie Saettele, CMT, Sr. Technical Strategist
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240 Minute Bars

eliottWaves_us_dollar_index_body_usd.png, US Dollar 7496 Serves as Pivot

Prepared by Jamie Saettele, CMT

The US dollar has broken higher. There are several levels that may provoke a reaction, including extensions at 7700, 7826 and 8030. The 200 day average at 7814 and December low / February high at 7878/87 reinforce the entire 7800 handle as one of significance.

Support/Resistance Index (M,W,D) – 3, 2, 4

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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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