USDOLLAR Decline Gathers Pace as All Supports Fail
300 Minute Bars
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is has plummeted into short term channel support and focus is now on a measured level at 9375 (decline from top would consist of 2 equal legs). The July low at 9323 is the line in the sand as far as the larger USD recovery story is concerned.
Trend Strength (M,W,D) – 1, 0, (1)
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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