USDOLLAR Nears Open of the Year

By DailyFx | Updated August 26, 2014 AAA

DailyFX.com -

Daily

USDOLLAR Nears Open of the Year

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-After flirting with the line that extends off of the 2011 and 2012 lows for 3 weeks, the USDOLLAR found legs and trades just shy of the 50% retracement of the year’s range and 200 SMA. The bullish outside month in July is a good way for long term USD strength to resume.

-10682 (50%) is in focus now. The year open is at 10668. I’d be surprised if a sharp pullback didn’t materialize from near 10690.

--Trading ideasare available to J.S. Trade Desk members.

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EURUSD Running Out of Steam On the Hint of Negative Divergence

  2. Forex News

    Forecast: Will Dollar and Equity Declines Evolve into Reversals?

  3. Forex News

    Dollar Stumbles but Will it Fall as Markets Debate Fed Hikes?

  4. Forex News

    1173 Key Support in Focus as Gold Preserves Monthly Opening Range

  5. Forex News

    Australian Dollar to Weigh 1Q CPI, China PMI as RBA Bets Evolve

Trading Center