USDOLLAR 10492 is Trend Defining Level

| 19 november, 2013 | 0 kommentarer

Daily

eliottWaves_us_dollar_index_body_Picture_1.png, USDOLLAR 10492 is Trend Defining Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

The 50% retracement of the advance from the Sep 2012 low proved strong support indeed and the market has blasted through resistance from former lows and the line that extends off of the Sep and 10/16 highs.”

-The advance is impulsive and a higher low is in place at 10492. Price continues to hold 10539. If 10492 fails to hold, then a deeper pullback is probably underway towards 10437. Continue to focus on the topside of the broken trendline (in blue) for support this week.

Trading Strategy:

LEVELS: 10455 10492 10539 | 10587 10624 10696

— 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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