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Forex: US Dollar Technical Analysis – Slipping to One-Week Low

Forex: US Dollar Technical Analysis – Slipping to One-Week Low

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices rose as expected after putting in a bullish Piercing Line candle pattern
  • A test through 10669-85 (Dec 4 high, 38.2% Fib) has exposed 10646 (range top)
  • Breaking lower targets 10612 (range bottom); above 10685 eyes 10723 (61.8% Fib)

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 – Slipping to One-Week 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

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