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USDOLLAR Pressures Range Resistance for 3rd Week

USDOLLAR Pressures Range Resistance for 3rd Week

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR Pressures Range Resistance for 3rd Week

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 push above the line that extends off of the April-June high negates anything bearish. Watch for support at 11970. A drop below 11918 (treated as the breakout day low) would indicate that this breakout was ‘false’. There is a warning sign from divergence with gold.

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

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