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.

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Fed, BOE rate hikes pose no risk to financial markets - BOJ's Iwata

  2. Forex News

    GBP positioning reveals shorts are shrinking – Danske Bank

  3. Forex News

    Range in USDOLLAR Index Offers Opportunities on Both Sides This Week

  4. Forex News

    GBP/USD stuck below 1.5600

  5. Forex News

    EUR/USD challenges highs near 1.0980

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!