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Forex: US Dollar Technical Analysis – Locked in Narrow Range

Forex: US Dollar Technical Analysis – Locked in Narrow Range

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 below 10646 (horizontal pivot) targets 10623 (channel bottoms)
  • Above 10719-33 (channel top, 23.6% Fib exp.) exposes 10773 (38.2% Fib exp.)

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

dailyclassics_us_dollar_index_body_Picture_3.png, Forex: US Dollar Technical Analysis – Locked in Narrow Range

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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