USDOLLAR Confined to Monday’s Large Range For Now
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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 firstname.lastname@example.org. 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.