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  • $USD set up for this week - $EURUSD looks like it wants to break out. still holding w/in resistance zone 1885-1900, but higher-low support, quick return to zone. attractive for a bearish usd thesis next resistance 1950 and then the big zone from 1965-2000 https://t.co/uK80mIe8i2
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.25% 🇪🇺EUR: 0.15% 🇯🇵JPY: 0.14% 🇨🇦CAD: 0.03% 🇨🇭CHF: -0.01% 🇬🇧GBP: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/l6UqEhgY1s
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  • $USD starting the week with some balance. $DXY support 91.82-91.93 resistance 92.19-92.26 https://t.co/1W1wPyVgTc https://t.co/cW8d3l4iia
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.94%, while traders in France 40 are at opposite extremes with 76.41%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7m67VhGS8I
USDOLLAR Putting Macro Channel to the Test

USDOLLAR Putting Macro Channel to the Test

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Putting Macro Channel to the Test

Chart Prepared by Jamie Saettele, CMT using

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

FOREXAnalysis: Using the same method that was used to determine the USDJPY objective, the USDOLLAR objective is 10781. Keep the long term channel (in blue) in mind…strength above there would suggest acceleration of the rally that began at the 2011 low. This could be EXTREMELY significant.

FOREX Trading Strategy: Flat

LEVELS: 10555 10586 10658 10691 10781 10889

--- 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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