USDOLLAR Sneaks Higher after Running into Channel
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-The USDOLLAR made an inside day after declining 1.27% on Wednesday. That was the largest one day decline since 6/29/12, which was also 1.27%.
-Possible bottoming levels are the June low at 10469 (low on Wednesday was 10471) and 100% extension of the decline from the July high at 10449. Price has reached the corrective channel support as well.
-The trendline off of the September 2012 and December 2012 lows is at about 10450 on Friday. Channel support is closer to the April lows late next week.
Trading Strategy: Flat
LEVELS: 10391 10450 10500 | 10584 10627 10642
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail firstname.lastname@example.org. Follow me on Twitter for real time updates @JamieSaettele
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.