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USDOLLAR Slips from 50% Retracement of Recent Decline

USDOLLAR Slips from 50% Retracement of Recent Decline

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR Slips from 50% Retracement of Recent Decline

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent comments on the USDOLLAR have noted that “despite the surge post Brexit, price action since March 2015 may compose a major top. Resistance extends up to the year open at 12139 and April 2015 high at 12162.” The index has rolled over from a key level from a trendline perspective. Price action since the first quarter could compose a massive top. For more, watch this video and 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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