Daily Bars

Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) rally reversed just shy of the 61.8% retracement of the 10054-9672 decline and 61.8% extension of the 9672-9878 rally. The 50 day average held and price is now testing a short term support line. A drop under 9779 would confirm the advance from 9672 as a 3 wave affair and put the January low in play.
Bottom Line – Lower
--- 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.