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USDOLLAR Forming a Triangle Since March Top?

USDOLLAR Forming a Triangle Since March Top?

2013-04-17 22:06:00
Jamie Saettele, CMT, Sr. Technical Strategist
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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

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