Daily Candles
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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FOREXAnalysis: Today’s USDOLLAR low was almost exactly at the midpoint of the range for the last 2 months (range being the 3/11 high to the 4/2 low). The exact middle of the range is 10484 (today’s low was 10485). Pattern wise, action since the March high may compose a flat (completed) or a triangle (developing). Both patterns are corrective and suggest another bull leg (above 10586). The uncertainty surrounds how much longer price stays within the range.
FOREX Trading Strategy: Flat
LEVELS: 10391 10464 10485 10562 10586 10608
— Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele
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