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USDOLLAR Trendline Support Holding For Now

USDOLLAR Trendline Support Holding For Now

2011-12-29 23:14:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Trendline Support Holding For Now

Prepared by Jamie Saettele, CMT

The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) rally failed before the October high but continues to find support from the October-November trendline. The battle lines are drawn. A drop under 9892 would shift focus to the December low at 9785 and then the November low at 9665 (reinforced by 200 day average). Exceeding 10090 sets sight on the October high and then an extension at 10254.

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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