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Forex: US Dollar Technical Analysis – Bulls Overturn Range Break

Forex: US Dollar Technical Analysis – Bulls Overturn Range Break

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices overturned yesterday’s range support break and turned sharply higher
  • A Bullish Engulfing candle pattern hints at gains; resistance is at 10707 (23.6% Fib)
  • Breaking higher exposes 10761 (38.2% Fib); support is at 10633 (channel bottom)

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 – Bulls Overturn Range Break

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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