USDOLLAR Channeling Defines Next Objectives
Chart Prepared by Jamie Saettele, CMT using
FOREXAnalysis: Using the same method that was used to determine the USDJPY objective, the near term USDOLLAR objective is 10781. Strength above the long term channel suggests acceleration of the rally that began at the 2011 low. This could be EXTREMELY significant…the Elliott channel for 5th wave estimation is at about 10820 on Wednesday. The line that connects the tops of waves 1 and 3 within the 5 wave advance from the 9/14/13 low is at about 10882 on Wednesday.
FOREX Trading Strategy: Flat
LEVELS: 10555 10586 10658 10781 10820 10882
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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