USDOLLAR Trades into 9 Month Trendline Support

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eliottWaves_us_dollar_index_body_usdollar.png, USDOLLAR Trades into 9 Month Trendline Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader

FOREXAnalysis: The USDOLLAR declined for a 5th consecutive day and into the line extends off of the December 2012 and June 2013 lows. The last 5 day decline (consecutive) was the day that ended 4/30. The one before that was the day that ended July 19th, 2012. Today’s close was also right at the 61.8% retracement of the rally from the June low.

FOREX Trading Strategy: Flat

LEVELS: 10532 10583 10644 10730 10804 10836

--- 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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