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US Dollar Technical Analysis ? Pausing After Key Breakout

May 21, 2014

Ilya Spivak





Talking Points:



  • US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
  • Support: 104448 (channel top)
  • Resistance: 10474-95, 10589-619



    The Dow Jones FXCM US Dollar Index positioning hints a double bottom is in place at 10375, the October 2013 floor after prices secured a break above falling channel resistance set from January. Initial resistance is in the 10474-95 area, with a daily close above that clearing the way for a move to challenge the 10589-619 region. The channel top, now at 10448, has been recast as near-term support.







    US Dollar Technical Analysis - Pausing After Key Breakout









    http://www.dailyfx.com/forex/video/live_events/2014/03/20/Forex_Video_Long-Term_US_Dollar_Outlook_03.20.2014.html?CMP=SFS-70160000000NbTwAAK




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    Source: DailyFx


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