USDOLLAR Trades into 9 Month Trendline Support
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Interested in automated trading with Mirror Trader
FOREXAnalysis: The USDOLLAR declined for a 5th consecutive day and into the line extends off of the December 2012 and June 2013 lows. The last 5 day decline (consecutive) was the day that ended 4/30. The one before that was the day that ended July 19th, 2012. Today’s close was also right at the 61.8% retracement of the rally from the June low.
FOREX Trading Strategy: Flat
LEVELS: 10532 10583 10644 10730 10804 10836
--- 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.