USDOLLAR Short Term Pivot Possibly in Place
Prepared by Jamie Saettele, CMT
“The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) reversed Friday (key reversal) in what probably marks the beginning of a move back towards 10130/50. These levels are former pivots and the 20 day average will cross these levels towards the end of the week. The tentative plan is to buy weakness into the mentioned support with a stop below 10076.” Price is nearing the ideal long zone for June.
LEVELS: 10076 10129 10147 10192 10218 10259
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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