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USDOLLAR in Middle of Range Within Downtrend before NFP

USDOLLAR in Middle of Range Within Downtrend before NFP

2014-05-01 22:06:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USDOLLAR in Middle of Range Within Downtrend before NFP

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-Bottom line, respect downside potential as long as price is below 10500. 10385/93 is possible support for a low IF a new low is registered. Above 10500 (daily close) would suggest that an important low has formed. Wave wise, a new low could complete 5 waves down from 10600.

LEVELS: 10393 10410 10437 | 10469 10500 10519

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

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