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USDOLLAR Finally Breaks Through 10760, Capped by Channel

USDOLLAR Finally Breaks Through 10760, Capped by Channel

2013-08-29 23:10:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Finally Breaks Through 10760, Capped by Channel

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader

FOREXAnalysis: “Bigger picture, the USDOLLAR remains constructive as per daily RSI holding the 40 level (similar to NZDUSD holding 60) and more importantly price holding the trendline that extends off of lows to late 2012.” The break through recent highs is promising but price faces a channel confluence now. Support for Friday is 10774.

FOREX Trading Strategy: Flat

LEVELS: 10709 10736 10774 10803 10857 10897

--- 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

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