USDOLLAR at Triangle Support Line
240 Minute Bars
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is bullish as long as price is above the early month low of 9856. Pattern wise, the swings since the November high may compose a triangle. Expect support just below the current level (triangle support line). Expectations are for a bullish reversal within the next few days.
Bottom Line – long, stop 9855
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail firstname.lastname@example.org. 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 email@example.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.