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USDOLLAR Fibonacci Relationships at Work

USDOLLAR Fibonacci Relationships at Work

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_us_dollar_index_body_Picture_1.png, USDOLLAR Fibonacci Relationships at Work

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 on Friday and followed through on Monday. As such, last week’s drop may have completed a larger bearish episode. The 61.8% retracement of the advance from 10354 held as support again on Thursday.

-The index needs to regain 10619 in order to suggest that the path is higher.

LEVELS: 10455 10496 10515 | 10562 10590 10619

--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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