USDOLLAR Former Resistance Acts as Support at 9800
300 Minute Bars
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) has plunged below a steep trendline support and reached early November highs (now support). The velocity of the decline certainly warrants questioning of the larger trend, which I do maintain is bullish (5 wave rally from August low). December’s opening range will be used to identify opportunities.
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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