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Forex Analysis: US Dollar Classic Technical Report 11.15.2012

Forex Analysis: US Dollar Classic Technical Report 11.15.2012

2012-11-15 12:14:00
Ilya Spivak, Head Strategist, APAC
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Prices took out resistance at 9982, the 50% Fibonacci retracement, with buyers now challenging the top of a rising channel established from mid-September (10020). This barrier is reinforced by the 61.8% Fib at 10038. A push above the latter boundary exposes the 76.4% retracement at 10109. The 9982 level has been recast as support, with a drop below that exposing the 38.2% mark at 9925.

Forex_Analysis_US_Dollar_Classic_Technical_Report_11.15.2012_body_Picture_5.png, Forex Analysis: US Dollar Classic Technical Report 11.15.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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