USDollar Daily Key Reversal-Base Channel Now Support
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) broke through the base channel last week, which is now probably support along with a steep support line at 9985 Friday. A break through the October high is expected eventually but the daily key reversal warns of at least consolidation (corrective action) for a few days.
Bottom Line (next 5 days) – sideways
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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