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FOREX Technical Analysis: USDOLLAR Closes Firm on Day at Resistance

FOREX Technical Analysis: USDOLLAR Closes Firm on Day at Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

FOREX_Technical_Analysis_USDOLLAR_Closes_Firm_on_Day_at_Resistance_body_usdollar.png, FOREX Technical Analysis: USDOLLAR Closes Firm on Day at Resistance

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: “The USDOLLAR reversed right at channel resistance Friday. Price has already tested and held initial support from former resistance at 10065. Estimated resistance is now 10111.” The USDOLLAR closed firm on the day and right at mentioned resistance. Like the EURUSD, price is in limo at these levels. The first day of the month (and year) low at 9990 is the pivot for swing traders (above is bullish).

FOREX Trading Strategy: The first day of the month (and year) low at 9990 is the pivot for swing traders (above is bullish).

LEVELS: 9977 10013 10065 10157 10236 10313

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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