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USDOLLAR Returns to Former Lows and Trendline

USDOLLAR Returns to Former Lows and Trendline

2013-10-29 23:30:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_us_dollar_index_body_usdollar.png, 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 jsaettele@dailyfx.com.  Follow me on Twitter for real time updates @JamieSaettele

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