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  • $USD made it a quick trip up to fibo resistance looked at in yday's webinar ~90.82 https://t.co/gedHWHfyKN https://t.co/ICAUcMaHYT
  • This is a pair flying under the radar but registering an extreme. $CADJPY weekly has difference between spot and 50-week moving average at +9.5%. Momentum past three weeks not only aggressive, the move has pushed it to 50% of 2014-2020 and 38.2% Fib of historical range https://t.co/yQJ15UpOTG
  • 🇺🇸 Initial Jobless Claims (08/MAY) Actual: 473K Expected: 490K Previous: 566K https://www.dailyfx.com/economic-calendar#2021-05-13
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  • Heads Up:🇺🇸 Initial Jobless Claims (08/MAY) due at 12:30 GMT (15min) Expected: 490K Previous: 498K https://www.dailyfx.com/economic-calendar#2021-05-13
  • Heads Up:🇺🇸 Jobless Claims 4-week Average (MAY/08) due at 12:30 GMT (15min) Previous: 560K https://www.dailyfx.com/economic-calendar#2021-05-13
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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