USDOLLAR at Trendline; Break Would Target Channel

| 4 oktober, 2013 | 0 kommentarer

Daily

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR at Trendline; Break Would Target Channel

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Since the 2011 low, USDOLLAR has not dropped for more than 4 consecutive weeks. Barring a reversal and close above 10543, this will be the 5th consecutive weekly drop (first since week that ended June 3rd, 2011).

The decline from the July high would consist of 2 equal waves at 10449. Channel support is at about 10400 and in line with the March and April lows.

Trading Strategy: Flat

LEVELS: 10325 10394 10469 | 10514 10543 10580

— Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail [email protected]  Follow me on Twitter for real time updates @JamieSaettele

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Kategori: Analys från DailyFX

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