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USDOLLAR Channel and 10390s Could Provoke Reaction

USDOLLAR Channel and 10390s Could Provoke Reaction

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_us_dollar_index_body_Picture_1.png, USDOLLAR Channel and 10390s Could Provoke Reaction

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDOLLAR has broken down. As such, focus shifts to the line that extends off of the 2011 and September 2012 lows. That line is below the October 2013 low over the next few weeks. 10390 (+-) is also possible support.

-The market would need to get back above 10500 to suggest that a low is in place.

LEVELS: 10313 10355 10393 | 10460 10495 10518

--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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