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USDOLLAR Holding above July-August Trendline

USDOLLAR Holding above July-August Trendline

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Holding above July-August Trendline

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 and more importantly price holding the trendline that extends off of lows to late 2012.” The break through the line that extends off of the July and August highs leaves the decline from the July high in 3 waves. The implications are bullish. 10760/70 is now support.

FOREX Trading Strategy: Flat

LEVELS: 10709 10736 10774 10812 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

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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