USDOLLAR Repeating Price Action From December
14 Jan 2015 19:11, GMTTalking 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
--- 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.