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USDOLLAR – Beware the Fake

USDOLLAR – Beware the Fake

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR – Beware the Fake

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-There is no change to the analysis of the USDOLLAR index, which is ‘stuck’ in a tight range. “Despite the surge post Brexit, price action since March 2015 may compose a major top. Resistance extends up to the year open at 12131 and April 2015 high at 12162.” Today’s rally has sent the index into 12000 and a long term parallel. The current juncture is important. For more on the USDOLLAR, watch this video.

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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