USDOLLAR FOMC Dump and Jump Trade….Again?
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“USDOLLAR is testing the 61.8% retracement of the advance from 10354 for the 3rd time in a month. Each test is slightly lower.” This ‘drip’ lower could accelerate on FOMC before the market attempts to find a low. That has been the trend in recent years anyway.
-Technically, the index needs to regain 10586 in order to suggest that the path is higher. Until then, look lower.
LEVELS: 10391 10455 10496 | 10546 10590 10619
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