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USDOLLAR Repeating Price Action From December

USDOLLAR Repeating Price Action From December

Paul Robinson, Strategist

Talking Points:

- USDOLLAR acting constructively past few sessions

- Repeat price action from December

- Breakout of pattern could lead to new swing high

The pullback in USDOLLAR Index over the past few days has been constructive in nature, building a bull flag on the 4hr/Daily time-frame. This price action, thus far, is a repeating theme from last month. Furthermore, a rising trend-line dating back to October provides additonal bullish underpinnings. Price holding trend support, followed by a breakout of the bull flag will likely result in a push to new swing highs.

USDOLLAR Index - 4hr: Oct. '14 - Present

USDOLLAR Repeating Price Action From December

--- Written by Paul Robinson, DailyFX Research

To contact Paul, email him at instructor@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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