Australia Markets open in 11 mins

FOREX Technical Analysis: USDOLLAR Shows Signs of Exhaustion

Jamie Saettele, CMT

Daily Bars

FOREX_Technical_Analysis_USDOLLAR_Shows_Signs_of_Exhaustion__body_usdollar.png, FOREX Technical Analysis: USDOLLAR Shows Signs of Exhaustion

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: While the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) has failed to extend to new highs in order to satisfy 5 waves up from 9892, respect potential for a reversal from current levels as the advance from Monday’s low is impulsive. This raises the possibility of truncation (5th wave failing to exceed the wave 3 price extreme).

FOREX Trading Strategy: A neutral stance is warranted at the current juncture.

LEVELS: 9935 9961 10001 10071 10090 10100

--- 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.