USDOLLAR Working on Outside Reversal Week
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Interested in automated trading with Mirror Trader
FOREXAnalysis: The USDOLLAR has already entered former resistance from the 6/24 high. In fact, the 6/21 to 6/24 zone is reinforced by the 50% and 61.8% retracements of the rally from 10469 and is a zone to expect demand. Given market conditions, it may be wise to wait for the lower region of the zone (10675) before looking for significant support.
FOREX Trading Strategy: Flat
LEVELS: 10585 10675 10740 10850 10920 10951
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail firstname.lastname@example.org. 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.