Forex: US Dollar Technical Analysis – Bullish Scenario Favored
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- A bullish Piercing Line candle pattern hints a move higher is ahead
- Pushing above 10718 (horizontal pivot) exposes 10756-84 (Jan high, channel top)
- Turning below 10661 (23.6% Fib ret, channel floor) targets 10602 (38.2% Fib ret.)
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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