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USDollar Inside Day at Trendline Support

USDollar Inside Day at Trendline Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDollar Inside Day at Trendline Support

Prepared by Jamie Saettele, CMT

All you need to know right now about the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is that 9893 defines the trend (above is bullish and below is bearish). This thing is coiled and primed to explode. A drop below 9893 would at least delay the near term bullish bias. Today’s inside day at trendline support is a sign of stabilization.

Bottom Line (next 5 days) – 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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