Forex: US Dollar Technical Analysis – Buyers Back in Control

DailyFX

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points

  • Prices are edging higher as expected after showing a Piercing Line candle pattern
  • Closing above 10718 (horizontal pivot) exposes 10756 (Jan 21 high)
  • Turning below 10661 (23.6% Fib ret, channel floor) targets 10602 (38.2% Fib ret.)

Can’t access to the Dow Jones FXCM US Dollar Index? Try the USD basket on Mirror Trader. **

View photo

.
dailyclassics_us_dollar_index_body_Picture_11.png, Forex: US Dollar Technical Analysis – Buyers Back in Control

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.
Learn forex trading with a free practice account and trading charts from FXCM.

View Comments (0)