Forex Analysis: US Dollar Classic Technical Report 01.23.2013
Prices put in a bearish Evening Star candlestick pattern below resistance at the top of a rising channel set from mid-September, hinting a move lower is ahead. Near-term support is at 10066, the 38.2% Fibonacci retracement. A break below that initially exposes the 50% level at 10038. Channel resistance is now at 10152.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.