USDOLLAR Moment of Truth as Price Sits on Elliott Channel
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The USDOLLAR has traded in a tight range for several weeks but needs to hold above Elliott channel support (there now) for one to maintain a constructive bias. Failure to hold the channel would strongly suggest that the advance ended with a truncated 5th wave and that a correction of the rally from the September 2012 low is underway.
FOREX Trading Strategy: Flat
LEVELS: 10323 10391 10444 10576 10608 10710
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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