Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The USDOLLAR hasn’t had much of a problem reaching the 2012 high. The index only started trading in mid-2011 but we can compute the index for older levels. One level of interest is the August 2010 high just above 10600. 10286 is estimated support on a pullback.
FOREX Trading Strategy: Risk on longs is moved up from 10130 to 10230.
LEVELS: 10200 10232 10286 10323 10400 10500
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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Jamie is the author of Sentiment in the Forex Market.