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USDOLLAR 2009 Highs Around The Bend

USDOLLAR 2009 Highs Around The Bend

Paul Robinson, Strategist

Talking Points:

  • USDOLLAR looks poised for another leg higher
  • Well supported by trend-line since October
  • 2009 high of 11,800 looks likely

The USDOLLAR index continues to maintain a bullish posture by making higher lows, and now working its way towards a potential apex of an ascending triangle. Trend support since the last USD correction in October continues to underpin long positions. A breakout above 11,715 is likely to lead the index up to the 2009 high of 11,800. A break of 11,645 will undermine the short-term bullish bias.

USDOLLAR 4-hr: Oct ’14 – Present

--- Written by Paul Robinson, DailyFX Research

To contact Paul, you can 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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