Forex: US Dollar Technical Analysis – Signs of Life Emerge
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices bounced as expected from falling channel resistance-turned-support set from July
- A break above resistance at 10653 (23.6% Fib exp.) exposes 10839 (38.2% Fib exp.)
- Turning below the channel top (10505-32) aims for 10492 (November 6 low)
Daily Chart - Created Using FXCM Marketscope 2.0
** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
Contact and follow Ilya on Twitter: @IlyaSpivak
New to FX? START HERE
For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.