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USDOLLAR – It’s a Long Way Down

USDOLLAR – It’s a Long Way Down

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USDOLLAR – It’s a Long Way Down

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 and I maintain that price action since Q1 2015 could compose a massive top with no decent support until the low 1100s.

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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