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USDOLLAR Former Resistance and Trendline May Serve as Support

USDOLLAR Former Resistance and Trendline May Serve as Support

2014-01-22 00:54:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_us_dollar_index_body_Picture_1.png, USDOLLAR Former Resistance and Trendline May Serve as Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDOLLAR has traded through the December and January highs. Action since 11/19 is sloppy but higher highs and lows are in place.

-The move above 10727 opens up the 8/20 high at 10812 as well as a measured move at 10835 although a wider period of ranging is possible, especially following recent uninspired action.

LEVELS: 10631 10653 10688 | 10722 10756 10812

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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