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USDOLLAR Outsized Move Still Respects Channel

USDOLLAR Outsized Move Still Respects Channel

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“USDOLLAR resistance is seen from sliding parallels (and maybe the upper parallel…which hasn’t been touched yet), from about 12125 to 12200 the rest of this week. Notice how a sliding parallel also identified the February low.” The high last week was on an upper parallel and the crash low was at channel support. Bottom line – follow the channel!

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.