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USDOLLAR Rally Attempt is Uninspiring to this Point

USDOLLAR Rally Attempt is Uninspiring to this Point

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Rally Attempt is Uninspiring to this Point

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-The USDOLLAR has retraced half of the advance from the Sep 2012 low.

-Price has responded to the downward sloping line that stemmed the decline after the no-taper announcement on 9/18. A push above 10437 is needed to suggest that the market is even trying to turn.

Trading Strategy: Flat

LEVELS: 10300 10323 10354 | 10437 10469 10494

--- 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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