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USDOLLAR Short Term Breakout Strategy Described

USDOLLAR Short Term Breakout Strategy Described

2011-12-09 16:52:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Short Term Breakout Strategy Described

Prepared by Jamie Saettele, CMT

The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) has taken out both support and resistance over the last 2 days but is unchanged on a net basis. Use the last 2 days’ price extremes as pivots. In other words, be bullish above 9946 towards the triangle resistance line (if it is a triangle) and bearish below 9784 towards 9665 and the triangle support line).

Other TA Articles

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com.  Follow me on Twitter @JamieSaettele

To be added to Jamie’s e-mail distribution list, send an e-mail with subject line "Distribution List" to jsaettele@dailyfx.com

Jamie is the author of Sentiment in the Forex Market.

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

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