USDOLLAR 6/14 High Serving as Interim Resistance
240 Minute Bars
Prepared by Jamie Saettele, CMT
“The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) wave count is breathtaking. Waves A and B of the 3 wave decline both divide into 5 waves while the rally off of the low is impulsive.” Dips should be bought. Supports are 10150 and 10108. On the daily, RSI bottomed at 40 on the nose yesterday, which is common practice for the indicator in a larger bull market.
LEVELS: 10090 10108 10150 10190 10221 10242
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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