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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

Weekly

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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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