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USDOLLAR Bull Resumption but Be Aware of 12220

USDOLLAR Bull Resumption but Be Aware of 12220

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR Bull Resumption but Be Aware of 12220

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDOLLAR continues to respect well-defined parallels. A drop below the lower parallel would indicate an important behavior change and potential for the largest decline since July 2014. At the same time, the median line could provide resistance next week near 12220.

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

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