USDOLLAR Forming a Triangle Since March Top?
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The USDOLLAR has traded in a sloppy range since the March high, which has me wondering if the pattern since that point is a triangle. If a triangle is underway, then expect several more weeks (at least) of wild swings in a tightening range before a breakout to new highs. Near term resistance is 10545.
FOREX Trading Strategy: Flat
LEVELS: 10391 10442 10490 10545 10576 10608
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.