USDOLLAR Continues to Respect Topside of Former Channel

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eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Continues to Respect Topside of Former Channel

Chart Prepared by Jamie Saettele, CMT using

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FOREXAnalysis: The USDOLLAR is the topside of the former corrective channel that formed in late 2012. As is the case with the EURUSD, GBPUSD, USDCHF, and USDJPY…USD weakness is mature and at a level where a rally attempt would ‘make sense’. For the USDOLLAR, that level is 10443-10479 (top of this zone has been reached).

FOREX Trading Strategy: Flat

LEVELS: 10391 10443 10479 10557 10629 10700

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com.  Follow me on Twitter for real time updates @JamieSaettele

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