News Column

Forex: US Dollar Technical Analysis ? Two-Month Support Eyed

February 11, 2014

Ilya Spivak





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 testing below support at 10642, the 76.4% Fibonacci expansion. A daily close below this barrier targets the 10617-20 area, marked by the 100% Fib and a horizontal support shelf dating back to mid-December 2013. A further push below this boundary exposes the 123.6% expansion at 10592. Alternatively, a reversal above the 61.8% level at 10658 aims for the underside of a rising channel set from November 2013, now at 10670.





    dailyclassics_us_dollar_index_body_Picture_12.png, Forex: US Dollar Technical Analysis - Two-Month Support Eyed












  • For more stories on investments and markets, please see HispanicBusiness' Finance Channel



    Source: DailyFx


    Story Tools