We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
FOREX Technical Analysis: USDOLLAR is Constructive above 9901

FOREX Technical Analysis: USDOLLAR is Constructive above 9901

2012-11-07 01:42:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

FOREX_Technical_Analysis_USDOLLAR_is_Constructive_above_9901_body_usdollar.png, FOREX Technical Analysis: USDOLLAR is Constructive above 9901

Chart Prepared by Jamie Saettele, CMT

FOREX Observations: The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) low is on the first day of the month thus a more bullish outcome should be respected as long as price is above that level (9901).

FOREX Trading Strategy Implications: Tuesday’s drop is viewed as an opportunity to align with longs for a run at channel resistance and the Fibonacci confluence at 10032/41.

LEVELS: 9901 9927 9950 9981 10032 10046

--- 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.

DISCLOSURES

News & Analysis at your fingertips.