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USDOLLAR Doji Puts Brakes on Immediate Breakout

USDOLLAR Doji Puts Brakes on Immediate Breakout

2014-05-15 17:46:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USDOLLAR Doji Puts Brakes on Immediate Breakout

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDOLLAR has dropped into (and held) 10385. This was estimated support from October 2013 although a more important zone is defined by the June 2012 high and October 2013 low at 10323/55. The top of the zone is also home to the line that extends off of the 2011 and 2012 lows and downward sloping channel support.

-Exceeding 10495 would suggest that an important low is in place. Near term, today’s doji warns of weakness in the coming days.

LEVELS: 104101042910445 | 104761049510518

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

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