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USDOLLAR Creeping Towards 11368 Objective

USDOLLAR Creeping Towards 11368 Objective

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR Creeping Towards 11368 Objective

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“A double bottom with the October 2013 and July 2014 lows in USDOLLAR was confirmed on the push above 10756. Extreme momentum and sentiment gives scope to a period of weakness in order to reset the market for its next advance. Daily RSI has moderated enough to reset the market for another push higher.”

-Reset for the next move higher indeed as the USDOLLAR is now at its best levels since May 2009. The expansion of the 11143-10920 range is 11365 but beware waning momentum (as per RSI divergence).

--Trading ideasare available to J.S. Trade Desk members.

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