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USDOLLAR Bullish Bias Triggered against Friday Low

USDOLLAR Bullish Bias Triggered against Friday Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Bullish Bias Triggered against Friday Low

Prepared by Jamie Saettele, CMT

No change: “The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) has held the ‘week of the Fed’ low for 2 weeks now. It seems that the week that ended 9/14 (Fed week) was exhaustive in nature but that doesn’t mean that the decline from 10323 is over. It’s too early to know. Working on near term developments, yesterday’s advance through Friday’s outside day is viewed as constructive. Look towards 9930/63 (9/10 high, 8/23 low and 38.2% retracement of the decline from 10323) as long as price is above Friday’s low. I expect a reaction within that zone if reached.”

LEVELS: 9792 9843 9863 9892 9930 9965

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for

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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.