U.S. Markets closed

Forex: US Dollar Technical Analysis – Familiar Support in Play

Ilya Spivak


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


Talking Points:


  • US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
  • Support: 10617-20 (horizontal pivot, 38.2% Fib exp.), 10592 (23.6% Fib exp.)
  • Resistance: 10642 (76.4% Fib exp.), 10658 (61.8% Fib exp.)


The Dow Jones FXCM US Dollar Index is testing support in the 10617-20 area, marked by the 100% Fibonacci expansion and a horizontal support shelf dating back to mid-December 2013. A further push below this boundary exposes the 123.6% level at 10592. Alternatively, a reversal back above the 76.4% Fib at 10642 aims for the 61.8% expansion at 10658.


We are holding long the US Dollar on a long-term basis via the Mirror Trader US Dollar currency basket. **


dailyclassics_us_dollar_index_body_Picture_11.png, Forex: US Dollar Technical Analysis – Familiar Support in Play

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


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.