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USDollar Takes out Prior Week’s High

USDollar Takes out Prior Week’s High

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDollar Takes out Prior Week’s High

Prepared by Jamie Saettele, CMT

The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) took out last week’s high and low TODAY. Certainly some consolidation can be expected but this action confirms recent bullish suspicions. Expect interim resistance at 10030 but breaks above 10097 and 10134 are expected in the coming weeks.

Bottom Line (next 5 days) – sideways/higher

--- 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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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