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Forex Analysis: US Dollar Classic Technical Report 11.22.2012

Forex Analysis: US Dollar Classic Technical Report 11.22.2012

2012-11-22 11:01:00
Ilya Spivak, Sr. Currency Strategist
Share:

Prices recovered from support above support near the 23.6% Fibonacci retracement (9993), a barrier reinforced by a rising trend line set from the October 17 low (10002). Initial resistance is at 10071, the November 16 high, with a push above that targeting the 38.2% Fib expansion at 10123. Alternatively, a drop below 9993 exposes the 38.2% Fib at 9945.

Forex_Analysis_US_Dollar_Classic_Technical_Report_11.22.2012_body_Picture_1.png, Forex Analysis: US Dollar Classic Technical Report 11.22.2012

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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