USDOLLAR Faces a Test from 10223/40

DailyFX

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eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Faces a Test from 10223/40

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

FOREXAnalysis: Recent commentary was “it’s worth keeping the potential bearish pattern in mind but trend is considered sideways as long as price is between 10158 and 10000. This defines the range for the year so far. A break of the range will offer a directional bias.” The USDOLLAR broke higher…so look higher towards 10223/40 and eventually the 2012 high.

FOREX Trading Strategy: Long against 10133.

LEVELS: 10102 10134 10174 10223/40 10323 10400

--- 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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Jamie is the author of Sentiment in the Forex Market.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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