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Forex: US Dollar Technical Analysis ? 17-Month Trend Line Held

February 19, 2014

Ilya Spivak





Talking Points:



  • US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
  • Support: 10538 (trend line from Sep'12), 10520 (Feb 17 low)
  • Resistance: 10576 (23.6% Fib ret.), 10610 (38.2% Fib ret.)



    The Dow Jones FXCM US Dollar Index began to cautiously drift higher after putting a Hammer candlestick above support at a rising trend line set from September 2012. Initial resistance lines up at 10576, the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 38.2% level at 10610. Trend lien support is now at 10538, followed by the February 17 low at 10520.





    dailyclassics_us_dollar_index_body_Picture_12.png, Forex: US Dollar Technical Analysis - 17-Month Trend Line Held












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    Source: DailyFx


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