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USDOLLAR Key Reversal after New High

USDOLLAR Key Reversal after New High

2013-04-22 23:57:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Key Reversal after New High

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 to a new high. The rally is accompanied by waning momentum however as daily RSI is below 60. Respect the potential for additional strength on balance over the next few weeks but probably into a top. A diagonal is also possible here (as it is in USDJPY).

FOREX Trading Strategy: Flat

LEVELS: 10443 10485 10506 10579 10608 10650

--- 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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