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eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Trades Through 2012 High

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

FOREXAnalysis: The USDOLLAR hasn't had much of a problem reaching the 2012 high. The index only started trading in mid-2011 but we can compute the index for older levels. One level of interest is the August 2010 high just above 10600. 10286 is estimated support on a pullback.

FOREX Trading Strategy: Risk on longs is moved up from 10130 to 10230.

LEVELS: 10200 10232 10286 10323 10400 10500

--- 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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Jamie is the author of Sentiment in the Forex Market.

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