USDOLLAR Forms Large Range Reversal Week
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Interested in automated trading with Mirror Trader
FOREXAnalysis: The USDOLLAR spiked through the 61.8% retracement of the decline from 11009 before reversing. The Monday high is also reinforced by the 7/9 low. Bigger picture, our goal should be to buy dips and the latest decline did retrace almost half of the rally from 10469. The reversal today however keeps me open to additional downside…maybe into 10675.
FOREX Trading Strategy: Flat
LEVELS: 10585 10675 10816 10928 10951 11009
--- 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.