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USDOLLAR Teeters above June Low

USDOLLAR Teeters above June Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Teeters above June Low

Prepared by Jamie Saettele, CMT

“The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is bullish against 10025 and aggressively bullish against 10121.” 10121 was taken out of course which negates the aggressively bullish 3rd wave count. Still, a bullish resolution outcome to recent activity is possible with price above 10025. A drop below 10025 would shift focus to 10005, 9975 and trendline support.

LEVELS: 10005 10025 10048 10087 10121 10151

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com.  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 jsaettele@dailyfx.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.

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