USDOLLAR Breakout is Valid against 10076
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) traded above its October high last week. Near term structure is favorable above 10076 towards a new high but probably in a 5th wave. In other words, a new high probably gives way to a correction back below 10076 rather than the next major move. 10219 is a level to watch on the upside. 10111 is near term support.
LEVELS: 10310 10219 10076 10050 10019 9976
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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