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USDOLLAR Trades into April Low

USDOLLAR Trades into April Low

2013-10-21 19:38:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Trades into April Low

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-The USDOLLAR has slid below where the decline from the July high would consist of 2 equal waves (10449) and into the April low of 10391 (low is 10389).

-A major channel support confluence has been reached. Failure to hold the current level opens up the 2012 high at 10323.

Trading Strategy: No bullish setup yet but the market is in the right place for a low.

LEVELS: 10323 10391 10402 | 10460 10500 10530

--- 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

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