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USDOLLAR Tags March High; Support Now 10050

USDOLLAR Tags March High; Support Now 10050

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, 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 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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