USDOLLAR Tags March High; Support Now 10050
Prepared by Jamie Saettele, CMT
“The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) continues to advance. The index marches higher nearly every day and may be on the verge of a significant bullish breakout. Price tested the March high today (10097) and focus is now on the October high at 10134. Trading through there would signal a major breakout towards a measured level of nearly 11000. Favor the upside against 10019. 10050/75 is support.
LEVELS: 10134 10050/75 10019
--- 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.