Australia Markets closed

FOREX Technical Analysis: USDOLLAR is Constructive above 9901

Jamie Saettele, CMT

Daily Bars

FOREX_Technical_Analysis_USDOLLAR_is_Constructive_above_9901_body_usdollar.png, FOREX Technical Analysis: USDOLLAR is Constructive above 9901

Chart Prepared by Jamie Saettele, CMT

FOREX Observations: The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) low is on the first day of the month thus a more bullish outcome should be respected as long as price is above that level (9901).

FOREX Trading Strategy Implications: Tuesday’s drop is viewed as an opportunity to align with longs for a run at channel resistance and the Fibonacci confluence at 10032/41.

LEVELS: 9901 9927 9950 9981 10032 10046

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for

To contact Jamie e-mail Follow me on Twitter @JamieSaettele

To be added to Jamie’s e-mail distribution list, send an e-mail with subject line "Distribution List" to

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.
Learn forex trading with a free practice account and trading charts from FXCM.