USDOLLAR Reverses at 50% of Decline from July High

DailyFX

4Hour

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.
eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Reverses at 50% of Decline from July High

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader

FOREXAnalysis: No change - “USDOLLAR looks most similar to EURUSD and USDCHF. The decline can be treated as an A-B-C from the top with wave C as a diagonal. The rally from yesterday’s low is impulsive (5 waves) and a pullback would present an opportunity to buy against 10693. Support is 10736/55.”

FOREX Trading Strategy: Looking to go long in mentioned zone.

LEVELS: 10693 10736 10755 10852 10867 10926

--- 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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