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USDOLLAR Trendline Proving its Worth

USDOLLAR Trendline Proving its Worth

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_us_dollar_index_body_Picture_1.png, USDOLLAR Trendline Proving its Worth

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDOLLAR made a key reversal at the line that extends off of the 2012 and October 2013 lows on 2/17. Price needs to exceed 10619 (preferably on a daily closing basis) in order to suggest that the market has turned the corner.

-The market continues to find support near 10554. The action is constructive.

LEVELS: 10496 10522 10556 | 10619 10649 10675

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

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

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