News & Analysis at your fingertips.

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. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
FOREX Technical Analysis: USDOLLAR Reverses, 9983 is Now Resistance

FOREX Technical Analysis: USDOLLAR Reverses, 9983 is Now Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

FOREX_Technical_Analysis_USDOLLAR_Reverses_9983_is_Now_Resistance_body_usdollar.png, FOREX Technical Analysis: USDOLLAR Reverses, 9983 is Now Resistance

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: Although not especially clean, both the rally from 9917 and decline from 10013 are probably in 3 waves. The most likely scenarios are a flat or triangle. In a flat, 10013 would be exceeded before a larger decline commenced. In a triangle, the range would tighten for probably a few weeks before a break a terminal thrust lower. In both cases, higher prices are likely the next few days.

FOREX Trading Strategy: Look towards 9983.

LEVELS: 9866 9891 9917 9983 10013 10044

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele

Subscribe to Jamie Saettele's distribution list in order to receive actionable FX trading strategy delivered to your inbox.

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