USDOLLAR Penetrates Trendline; Rally Unfolding in Impulsive Manner
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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-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.
-Price is above trendline resistance and the advance is unfolding in an impulsive manner, which may present a swing long in early November.
Trading Strategy: Flat
LEVELS: 10354 10407 10450 | 10510 10550 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.