USDOLLAR 10620 Becomes the New Pivot After Outside Day
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“USDOLLAR broke lower from consolidation on Tuesday but completely retraced the move on Wednesday. Such action is typical of false breaks.”
-Higher lows are in place since Oct with the latest low at 10620. Look higher towards 10757 and 10812 as long as price is above 10620.
Trading Strategy: Long, against 10620.
LEVELS: 10594 10620 10669 | 10708 10757 10812
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail firstname.lastname@example.org. 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.