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USDOLLAR Breaks July Low-9975 and 9920 in Focus

USDOLLAR Breaks July Low-9975 and 9920 in Focus

2012-07-19 19:01:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Breaks July Low-9975 and 9920 in Focus

Prepared by Jamie Saettele, CMT

“We should know in the next few days whether or not the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is going to continue higher from above or below 10048.” We’ve got the answer. The drop below 10048 shifts focus towards the 9920 by the end of July (100% extension of the decline from 10323 intersects channel support on 7/30 at 9920).

LEVELS: 9920 9973 10025 10075 10094 10128

--- 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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