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