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USDOLLAR Back at Mutliyear High

USDOLLAR Back at Mutliyear High

Jamie Saettele, CMT, Sr. Technical Strategist

4Hour

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Back at Mutliyear High

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader

FOREXAnalysis: The USDOLLAR is trading at its highest level in exactly 3 years (week that ended July 2nd, 2910). Price was in the midst of a vicious downtrend 3 years ago and the opposite is true at this point. The rally from the 6/13 low is more or less uninterrupted and momentum is waning (lower oscillator peaks at each price high since 6/20 on the intraday plot). A setback is due.

FOREX Trading Strategy: Flat

LEVELS: 10684 10813 10862 10989 11129 11285

--- 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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