News Column

US Dollar Technical Analysis ? Bullish Trend Change Hinted

May 20, 2014

Ilya Spivak





Talking Points:



  • US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
  • Support: 10451 (channel top)
  • Resistance: 10474-95, 10589-619



    The Dow Jones FXCM US Dollar Index appears to have set a major double bottom at 10375, the October 2013 bottom. An upward trend change is being hinted by a break above resistance at the top of a falling channel that had guided the downward trajectory since the beginning of the year. Resistance is in the 10474-95 area, with a break above that clearing the way for a move to challenge the 10589-619 region. The channel top, now at 10451, has been recast as near-term support.







    US Dollar Technical Analysis - Bullish Trend Change Hinted












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



    Source: DailyFx


    Story Tools






    HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters