USDOLLAR Breaks Down; 10435 and 10406 are Key Levels

By DailyFx | Updated July 30, 2014 AAA

DailyFX.com -

Daily

USDOLLAR Breaks Down; 10435 and 10406 are Key Levels

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“Thursday’s reversal, from below the 200 DMA mind you, shifts immediate focus lower (a new high still faces trendline resistance and the 200 DMA). The cleanest levels of possible support are 10435 (former low and 61.8% retracement) and 10406. The latter level is the 5/8 close and is just above the top side of the trendline that extends off of the Jan and April highs.”

LEVELS: 104061043510455 | 104821049610524

--Trading specifics (setups with entries, stops, targets) are available to J.S. Trade Desk members.

Related Forex Analysis
  1. GBP/USD shifting through gears but now back into neutral
    Forex News

    GBP/USD shifting through gears but now back into neutral

  2. EUR/USD eyes on 2014 lows
    Forex News

    EUR/USD eyes on 2014 lows

  3. USD/JPY consolidates below 118.00
    Forex News

    USD/JPY consolidates below 118.00

  4. EUR/USD Eyes Monthly Low as ECB Draghi Hints at QE- CPI in Focus
    Forex News

    EUR/USD Eyes Monthly Low as ECB Draghi Hints at QE- CPI in Focus

  5. Gold Output Declines Amongst Top 5 Producers, Coinciding with Lower Prices
    Forex News

    Gold Output Declines Amongst Top 5 Producers, Coinciding with Lower Prices

Trading Center