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USDOLLAR Has Eyes for 11730s

USDOLLAR Has Eyes for 11730s

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR Has Eyes for 11730s

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last few USDOLLAR update noted that “the turn lower casts a vote in favor of the head and shoulders top pattern. A break of 12000 is needed in order to complete the pattern…focus is lower but be aware of 11970 and/or 11909 for possible support.” 11970 held for a few days then the Fed blew up the buck. Barring a few days of consolidation, the next support isn’t until 11730s (February, April, and June lows).

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.

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