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USDOLLAR 6 Days Up; First Time Since 5/29 and 6/1

USDOLLAR 6 Days Up; First Time Since 5/29 and 6/1

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

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

-Remember, the sideways trade of the last 6 months should be viewed in a bullish context. The reversal on 10/15 was confirmed on the next day’s rally and it’s been straight up for the USDOLLAR index since then. Watch for support near recent resistance (10/14 high at 11970) in order to maintain a near term constructive view.

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

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