USDOLLAR-Expecting Rally to Prove Corrective

Daily

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.

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