USDOLLAR Weakness Accelerates; 2012 High Now Viewed as Support
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: A short term USDOLLAR head and shoulders top was confirmed 2 Fridays ago and the market followed through on the downside today. The objective for the pattern is 10323, which happens to be the 2012 high. The 2/25 low is also of interest as support at 10365. In summary, look lower towards 10323/65 before thinking about buying a dip.
FOREX Trading Strategy: Flat
LEVELS: 10323 10365 10413 10514 10576 10611
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail email@example.com. Follow me on Twitter for real time updates @JamieSaettele
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.