USDOLLAR Back at Mutliyear High
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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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 email@example.com. Follow me on Twitter for real time updates @JamieSaettele
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.