USDollar Supported by Former Congestion
240 Minute Bars
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) has slipped from channel resistance but there is support at the current level from former congestion (extends to 9869). Near term resistance is 9911 but strength above 9946 is needed in order to trigger a run on 10000. Until then, price is vulnerable.
Bottom Line (next 5 days) – sideways
--- 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.