Forex: US Dollar Technical Analysis – Four-Month High Set
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- Prices rose as expected after putting in a bullish Piercing Line candle pattern
- Breaking above 10685 (38.2% Fib ret.) has exposed 10723 (50% Fib ret.)
- Turning back below 10685 targets 10612 (former range bottom)
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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