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USDOLLAR-Expecting Rally to Prove Corrective

USDOLLAR-Expecting Rally to Prove Corrective

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR-Expecting Rally to Prove Corrective

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent comments remain valid; “An important price high is in place (see the weekly hanging man candle). Watch for resistance in the 12130/60 zone.” The USDOLLAR index has reached the bottom of the mentioned zone. A corrective rebound could extend to 12174 (2 equal legs from the low) but the general idea of ‘bearish on strength’ remains favored.

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

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