FOREX Technical Analysis: USDOLLAR Intraday Reversal Clouds Picture
Chart Prepared by Jamie Saettele, CMT
FOREX Observations: “The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) made an inside day after failing to break through the 38.2% retracement of the decline from 10323 at 9963. RSI didn’t exceed 60 at the top.” Thursday’s intraday reversal clouds the previously described bearish picture.
FOREX Trading Strategy Implications: Market risk is still lower against 9978 but I would not fight strength on a print above 9978.
LEVELS: 9846 9889 9920 9978 10027 10046
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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