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Forex: US Dollar Technical Analysis – Sideways Trade Continues

Forex: US Dollar Technical Analysis – Sideways Trade Continues

2014-01-07 08:25:00
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 (range support) targets 10631 (channel bottom)
  • Above 10706 (range top) targets 10727 (Dec 19 high), 10750 (channel top)

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

dailyclassics_us_dollar_index_body_Picture_11.png, Forex: US Dollar Technical Analysis – Sideways Trade Continues

** 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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