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USDOLLAR Short Term Wave Count Turn Potential from Slightly Lower

USDOLLAR Short Term Wave Count Turn Potential from Slightly Lower

2013-09-25 22:04:00
Jamie Saettele, CMT, Sr. Technical Strategist

4Hour

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Short Term Wave Count Turn Potential from Slightly Lower

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-The USDOLLAR made an inside day last Thursday after declining 1.27% last Wednesday. That was the largest one day decline since 6/29/12, which was also 1.27%.

-Near term pattern is coming into focus. The rally from 10471 consists of 5 waves and a dip under 10527 could complete a 3 wave correction from the 9/20 high. Watch 10512/20 for support.

Trading Strategy: Look for a low near 10520.

LEVELS: 10391 10469 10520 | 10584 10627 10642

--- 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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