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USDOLLAR New May High; Testing Major Level

USDOLLAR New May High; Testing Major Level

2014-05-22 21:17:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USDOLLAR New May High; Testing Major Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDOLLAR is testing the March low and early May high (this is also the 13 week average). The push above trendline resistance is a positive development that sets the path higher against 10435. If the index follows through on this positive development, then 10560/70 is probably an area of contention. This zone is defined by the 50% retracement of the 2014 range and 200 DMA.

LEVELS: 104081043510467 | 104951051810546

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

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