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

Related Forex Analysis
  1. Greenback dropping ahead of holidays – FXStreet
    Forex News

    Greenback dropping ahead of holidays – FXStreet

  2. USD/ZAR Approaches Support on Upturned Business Confidence
    Forex News

    USD/ZAR Approaches Support on Upturned Business Confidence

  3. USD/JPY rebounds from 117.40
    Forex News

    USD/JPY rebounds from 117.40

  4. EUR/USD back near 1.2500
    Forex News

    EUR/USD back near 1.2500

  5. Oil prices falling harms ECB’s quest - BBH
    Forex News

    Oil prices falling harms ECB’s quest - BBH

Trading Center