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USDOLLAR Churning Sideways before Next Leg Higher

USDOLLAR Churning Sideways before Next Leg Higher

2013-12-02 21:48:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_us_dollar_index_body_Picture_1.png, USDOLLAR Churning Sideways before Next Leg Higher

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-USDOLLAR traded to a 2 month high last week (highest since 9/16).

-A higher low is in place at 10535. Look higher towards 10708 and 10757 as long as price is above 10535.

Trading Strategy: Long against 10535. Ideally, we can move the stop to 10594 in the next few days.

LEVELS: 10566 10594 10625 | 10661 10708 10757

--- 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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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