USDollar Upside Break Favored Sooner than Later
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is once again threatening the resistance line that extends off of the October and December highs. A break above would signal completion of the consolidation since August (nearly 8 months) and a significant breakout. I’m cautiously bullish against the 3/19 low of 9930.
Bottom Line (next 5 days) – higher?
--- 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.