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 Drops into Middle of Channel

FOREX Technical Analysis: USDOLLAR Drops into Middle of Channel

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

FOREX_Technical_Analysis_USDOLLAR_Drops_into_Middle_of_Channel_body_usdollar.png, FOREX Technical Analysis: USDOLLAR Drops into Middle of Channel

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: I wrote yesterday that “the USDOLLAR closed firm on the day and right at mentioned resistance. Like the EURUSD, price is in limbo at these levels. The first day of the month (and year) low at 9990 is the pivot for swing traders (above is bullish).” The drop into former congestion presents an opportunity to get long against 9990.

FOREX Trading Strategy: Long against 9990.

LEVELS: 9960 9990 10013 10124 10157 10236

--- 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