USDOLLAR Support Surrounds 10000 Level
60 Minute Bars
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is bullish against 10025. Waves A and B of the 3 wave decline both divide into 5 waves while the rally from 10025 is impulsive. Dips should be bought. Support is clustered around 10000 (former pivots at 10092 and 10111). On the daily, RSI bottomed at 40 on the nose last week, which is common practice for the indicator in a larger bull market.
LEVELS: 10067 10090 10111 10190 10221 10242
--- 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.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.