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US Dollar Outlook: EUR/USD Stumbles Lower as Fed Meeting Looms
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EUR/USD Still Susceptible to Larger Pullback as RSI Divergence Remains
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USDOLLAR Confined to Monday’s Large Range For Now

USDOLLAR Confined to Monday’s Large Range For Now

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Confined to Monday’s Large Range For Now

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: The outside day Monday and inside day Tuesday 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). Exceeding 10444 would probably signal a terminal thrust from a triangle with objectives at 10493 and 10523.

FOREX Trading Strategy: Flat

LEVELS: 10274 10308 10364 10444 10493 10523

--- 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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