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USDOLLAR August Low at Risk as Price Drops for 4th Day

USDOLLAR August Low at Risk as Price Drops for 4th Day

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR August Low at Risk as Price Drops for 4th Day

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-The USDOLLAR declined for a 4th consecutive day and is just several points above its August low of 10646. A drop below would encounter the line that extends off of the May and June lows at about 10615 on Tuesday.

-The March and April highs are also estimated support is reached at 10586.

Trading Strategy: Flat

LEVELS: 10586 10615 10646 | 10696 10754 10791

--- 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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