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USDOLLAR Revisits 50% of Rally From June

USDOLLAR Revisits 50% of Rally From June

2013-07-25 23:54:00
Jamie Saettele, CMT, Sr. Technical Strategist
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4Hour

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Revisits 50% of Rally From June

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader

FOREXAnalysis: The 50% of the advance from June at 10739 has held so far (did drop below intraday on Thursday). I wrote Wednesday that “structure of the decline from the top isn’t clear (A-B-C with triangle wave B is possible however). What’s important to note is that the decline retraced half of the prior rally and price responded to the level.” The decline can now be counted as A-B-C from the top with wave C as a diagonal.

FOREX Trading Strategy: Flat

LEVELS: 10675 10700 10717 10781 10827 10867

--- 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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