Daily
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Interested in automated trading with Mirror Trader
FOREXAnalysis: “The failed run at last week’s low (like EURUSD and the failed run at the high) has me looking higher for at least several days in the USDOLLAR. In fact, a key reversal unfolded today following the lowest close since 6/27. It may be that a triangle or flat pattern is underway from the 7/11 low. Both point higher over the next few days. 10876 is estimated resistance. 10951 is in focus if price breaks the Monday high.” In general, still looking towards 10876 although 10807/27 is now support and could be reached first.
FOREX Trading Strategy: Order to go long at 10812, stop 10755
LEVELS: 10675 10757 10807 10876 10926 10951
— 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
Subscribe to Jamie Saettele’sdistribution list in order to receive actionable FX trading strategy delivered to your inbox. Jamie is the author of Sentiment in the Forex Market.