US Dollar Support at 7400-7435
240 Minute Bars
Prepared by Jamie Saettele, CMT
The drop below 7496 could complete a flat correction. Fibonacci measurements at 7435 (50% retracement), and 7396 (61.8% retracement) should hold the decline if the larger trend has turned up. Near term resistance is at 7500.
Support/Resistance Index (M,W,D) – 1, (1), (5)
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 firstname.lastname@example.org.
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