USDOLLAR Returns to Former Lows and Trendline
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-The 50% retracement of the advance from the Sep 2012 low proved strong support indeed and the market now faces resistance from former lows and trendline resistance.
-If a low is in place, then expect price to stay above 10437 as an impulse unfolds towards higher levels.
Trading Strategy: Flat
LEVELS: 10354 10393 10437 | 10494 10552 10580
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail email@example.com. 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.