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USDOLLAR Trades into 9 Month Trendline Support

USDOLLAR Trades into 9 Month Trendline Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_us_dollar_index_body_usdollar.png, 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 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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