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USDOLLAR at Right Place for a Sharp Bounce

USDOLLAR at Right Place for a Sharp Bounce

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR at Right Place for a Sharp Bounce

Chart Prepared by Jamie Saettele, CMT using

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

FOREXAnalysis: The USDOLLAR is the topside of the former corrective channel that formed in late 2012. As is the case with the EURUSD, GBPUSD, USDCHF, and USDJPY…USD weakness is mature and at a level where a rally attempt would ‘make sense’. For the USDOLLAR, that level is 10443-10479 (top of this zone has been reached).

FOREX Trading Strategy: Flat

LEVELS: 10391 10443 10479 10557 10629 10700

--- 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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