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USDOLLAR Forming a Triangle Since March Top?

USDOLLAR Forming a Triangle Since March Top?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Forming a Triangle Since March Top?

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

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

To contact Jamie e-mail jsaettele@dailyfx.com.  Follow me on Twitter for real time updates @JamieSaettele

Subscribe to Jamie Saettele'sdistribution 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.

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