USDOLLAR One More Push Before Sharp Drop

By DailyFx | Updated August 28, 2014 AAA

DailyFX.com -

Daily

USDOLLAR One More Push Before Sharp Drop

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. Investing

    EUR/USD Falls During Wednesday Trading

  2. Investing

    NZD/USD: 0.75 Level too Resistive

  3. Investing

    USD/NOK Trying to Break Out

  4. Investing

    USD/SGD Forms a Positive Hammer

  5. Forex News

    Treasury yields pull up USD/JPY pair

Trading Center