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USDOLLAR Remains Above Trend Defining Level of 10535

USDOLLAR Remains Above Trend Defining Level of 10535

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_us_dollar_index_body_Picture_1.png, USDOLLAR Remains Above Trend Defining Level of 10535

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDOLLAR broke lower from consolidation on Tuesday but completely retraced the move on Wednesday. Such action is typical of false breaks.

-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: 10493 10535 10566 | 10638 10669 10708

--- 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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