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USDOLLAR Near Term Channel Defines Direction

USDOLLAR Near Term Channel Defines Direction

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR Near Term Channel Defines Direction

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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