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USDOLLAR Tags 61.8% of June Decline

USDOLLAR Tags 61.8% of June Decline

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR Tags 61.8% of June Decline

Chart Prepared by Jamie Saettele, CMT

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

-The last several July’s have been important for USDOLLAR. An important top registered in July 2013. In 2014 (low was June 30th and rally began on 7/2), an important low formed. The index is not at a trend extreme but it is at an important technical level; the 61.8% retracement of the June decline and slope resistance. The stage is set for another attempt on support (near 11770). A break below there would be significant.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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