USDOLLAR Focus Still 10220 (at least)
240 Minute Bars
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is bullish and risk can be moved up from 10025 to 10136. A move above 10193 would still face resistance from the 100% extension of the 10025-10190 rally at 10220. Channel resistance is slightly above 10220. A break above the channel (drawn in corrective fashion) would suggest that strength from 10025 is impulsive and focus would shift to 10323.
LEVELS: 10116 10136 10160 10191 10220 10245
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele
To be added to Jamie's e-mail distribution list, send an e-mail with subject line "Distribution List" to jsaettele@dailyfx.com
Jamie is the author of Sentiment in the Forex Market.
Prepared by Jamie Saettele, CMT
The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) is bullish and risk can be moved up from 10025 to 10136. A move above 10193 would still face resistance from the 100% extension of the 10025-10190 rally at 10220. Channel resistance is slightly above 10220. A break above the channel (drawn in corrective fashion) would suggest that strength from 10025 is impulsive and focus would shift to 10323.
LEVELS: 10116 10136 10160 10191 10220 10245
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele
To be added to Jamie's e-mail distribution list, send an e-mail with subject line "Distribution List" to jsaettele@dailyfx.com
Jamie is the author of Sentiment in the Forex Market.
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