USDOLLAR Key Reversal after Spiking Though Key Level


USDOLLAR Key Reversal after Spiking Though Key Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“After flirting with the line that extends off of the 2011 and 2012 lows for 3 weeks, the USDOLLAR found legs and trades just shy of the 50% retracement of the year’s range and 200 SMA. The bullish outside month in July is a good way for long term USD strength to resume.”

-“The USDOLLAR has blasted through everything that I thought would at least lead to a multiday sideways to down move. 10869/97 is a possible reaction level (maybe).” The index reversed sharply after pushing above the August 2013 high at 10897. A counter move may finally be underway. Watch 10756 for support.

–Trading ideasare available to J.S. Trade Desk members.

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