Prepared by Jamie Saettele, CMT
Be sure to stay abreast of the current interpretation of wave structure in risk. The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) dropped into support from the 20 day average and late May congestion. The decline from the top also consists of 2 equal waves (exact equality would be 10146.75 and the low was 10144.37). In any case, this is a good level to test the long side against 10076.
LEVELS: 10038 10076 10129 10192 10218 10259
--- 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.