Forex: US Dollar Technical Analysis – Soaring to 4-Month High
To receive Ilya's analysis directly via email, please SIGN UP HERE
- Prices turned higher as expected after putting in a Bullish Engulfing candle pattern
- Breaking above 10727 (Dec 20 high) exposes 10761 (38.2% Fib exp., channel top)
- Reversing below 10707 (23.6% Fib exp.) targets 10635 (channel bottom)
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
New to FX? START HERE
For live market updates, visit the Real Time News Feed
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.