Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View More
USDOLLAR Strength Viewed as Countertrend

USDOLLAR Strength Viewed as Countertrend

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “the USDOLLAR index has retraced half of the January-May decline. Near term pressure is higher while the index is above the 5/26 low of 11921. An area that could cause problems for bulls is roughly 12040/64. This area is defined by the 200 day average and 61.8% retracement of the January-May decline.” The index never made it to the cited area. The sharp decline from well-defined slope is evidence that everything since March 2015 is a topping pattern.

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.

DISCLOSURES