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USDOLLAR Inside Day on An Outside Day Portends Exhaustion

USDOLLAR Inside Day on An Outside Day Portends Exhaustion

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Inside Day on An Outside Day Portends Exhaustion

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0New to FX?Know Your Trader IQ

FOREXAnalysis: The outside day yesterday and inside day today provides a reference point for the next move. A drop below Monday’s low would signal downside pressures towards former resistance at 10343/55 and probably the 20 day average (currently near 10300).

FOREX Trading Strategy: Flat

LEVELS: 10274 10308 10364 10444 10500 10608

--- 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

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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.

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