Forex Analysis: US Dollar Classic Technical Report 12.21.2012

Ilya Spivak

Prices staged a mild recovery from neckline support established from late October (now at 9928) to retest trend line support-turned-resistance at 9958. A break above that aims for the 23.6% Fibonacci expansion at 9995. Alternatively, a drop below neckline support eyes the channel bottom at 9867.


Forex_Analysis_US_Dollar_Classic_Technical_Report_12.21.2012_body_Picture_1.png, Forex Analysis: US Dollar Classic Technical Report 12.21.2012
Forex_Analysis_US_Dollar_Classic_Technical_Report_12.21.2012_body_Picture_1.png, Forex Analysis: US Dollar Classic Technical Report 12.21.2012

Daily Chart - Created Using FXCM Marketscope 2.0




--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com


To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak


To be added to Ilya's e-mail distribution list, please CLICK HERE


New to FX? Watch this Video. 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.
Learn forex trading with a free practice account and trading charts from FXCM.