Forex Analysis: US Dollar Classic Technical Report 01.29.2013
Prices are put in a Shooting Star candlestick below resistance marked by the 61.8% Fibonacci expansion (10181) and a rising channel top (10191), hinting a move lower is ahead. Initial support is at 10153, the 50% level, with a break below that targeting the 38.2% Fib at 10124. Alternatively, a push above resistance aims for the 76.4% expansion at 10216.
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.