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USDOLLAR Trades into April High and Trendline

USDOLLAR Trades into April High and Trendline

2013-09-16 00:07:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Trades into April High and Trendline

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-The USDOLLAR traded to 10584. The April high at 10586 served as support along with the line that extends off of the April and June lows.

-Failure to hold the current level opens up the 200 day average (currently at 10512).

-Exceeding Friday’s high (10700) would suggest that a low is in place.

Trading Strategy: Flat

LEVELS: 10469 10512 10586 | 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.

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