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USDOLLAR Trades to Nearly 3 Month High and Reverses Sharply

USDOLLAR Trades to Nearly 3 Month High and Reverses Sharply

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_us_dollar_index_body_Picture_1.png, USDOLLAR Trades to Nearly 3 Month High and Reverses Sharply

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 nearly 3 month high on Tuesday before reversing and closing near the lows. The day qualifies as a key reversal.

-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.

LEVELS: 10535 10566 10594 | 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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