USDOLLAR Tests Early Month Highs before Pullback; Remains Constructive

| 10 oktober, 2013 | 0 kommentarer

Daily

eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Tests Early Month Highs before Pullback; Remains Constructive

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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USDOLLAR declined for a 5thconsecutive weekfor the first time since the week that ended June 3rd, 2011.

-The decline from the July high would consist of 2 equal waves at 10449 (low so far is 10455). The trendline that extends off of the September and December 2012 has been reached.

-Channel support is at about 10410. The April low is at 10391.

Trading Strategy: Response at trendline is promising. Push above 10580 would be additional evidence that a larger rally is underway.

LEVELS: 10391 10410 10449 | 10509 10541 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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