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USDOLLAR Probes June Low and 10000

USDOLLAR Probes June Low and 10000

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Probes June Low and 10000

Prepared by Jamie Saettele, CMT

The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) broke to new lows earlier than anticipated. A bearish triangle from 10025 was proposed yesterday in which case price would have traded sideways for a week or so before the terminal thrust lower. Focus is on the internal downward sloping channel which intersects the 100% extension of the decline from 10223 at 9986 tomorrow.

LEVELS: 9938 9986 10026 10063 10088 10111

--- 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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