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Forex: US Dollar Technical Analysis – Trying to Extend Gains

Forex: US Dollar Technical Analysis – Trying to Extend Gains

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices rose as expected after putting in a bullish Piercing Line candle pattern
  • Breaking above the 10669-85 area (Dec 4 high, 38.2% Fib exp.) exposes 10723 (50% Fib)
  • Near-term support is at 10612, a former range bottom, followed by 10565 (Dec 10 low)

Can’t access to the Dow Jones FXCM US Dollar Index? Try the USD basket onMirror Trader **

dailyclassics_us_dollar_index_body_Picture_12.png, Forex: US Dollar Technical Analysis – Trying to Extend Gains

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

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