240 Minute Bars

Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) rally from the 2/8 low consists of 2 equal legs, which is typical of a correction. This level is reinforced by former lows as well (1/2, 1/3, and 1/23…former support becomes resistance). A push through would be all the more impressive and shift focus to the 161.8% extension and 1/25 high at 9932. 9832 is support.
Bottom Line – flat
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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Jamie is the author of Sentiment in the Forex Market.