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
US Dollar – Resistance Stretches to 96.80s

US Dollar – Resistance Stretches to 96.80s

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

US Dollar – Resistance Stretches to 96.80s

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The clearest section of recent DXY price action is the 3 wave rally from the May low. That alone suggests that the path of least resistance is lower. Of course, weakness from the July high isn’t impulsive either (but could be motive), which leaves the wave picture unclear. Pay attention to the rising trendline just below price. Weakness below would be the best signal yet that a breakdown is underway. Downward slope is defined by the December-January trendline and also serves as the bearish invalidation level.

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