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Forex: US Dollar Technical Analysis – Range Bottom Threatened

Forex: US Dollar Technical Analysis – Range Bottom Threatened

2014-01-13 10:00:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices rose as expected after putting in a bullish Piercing Line candle pattern
  • A break below 10640-46 (range bottom, 23.6% Fib ret.) exposes 10585 (38.2% Fib)
  • Moving above range resistance (10718) targets 10755 (rising 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 – Range Bottom Threatened

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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